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Slovenia ends 2016 with inflation of 0.5%

Slovenia ends 2016 with inflation of 0.5% tanatat/Shutterstock.com

LJUBLJANA (Slovenia), December 29 (SeeNews) - Slovenia posted an annual inflation of 0.5% in 2016, reversing a deflation by the same margin in 2015, the statistics office said on Thursday.

In November, Slovenia's annual consumer prices increased 0.6%.

In 2016 the greatest impact on annual inflation - by 0.3 ppt - came from higher food prices, with the price of vegetables jumping 8.7%, the statistics office said in a monthly inflation report.

Telephone and internet services rose 3.2%, motor fuels were up 1.8%, and products from the group miscellaneous goods and services appreciated 1.6%.

On the other hand in 2016, the inflation was pushed down 0.2 p.p. each by lower prices of garments, down 4.1%, and by lower prices of motor cars, down 3.4%. Prices of heating energy dropped 8.4%.

On a monthly comparison basis, consumer prices fell 0.5% in December, after increasing by 0.1% in November, the data indicated. 

The monthly deflation was pushed down 0.5 p.p. by lower prices of clothing and footwear. The prices of garments dropped 6.8% and the prices of shoes and other footwear depreciated by 3.9%.

Prices, however, were pushed up 0.1 p.p. by 7.6% higher prices of vegetables.

Measured by the harmonised index of consumer prices (HICP), the annual price growth was 0.6% in 2016, following a deflation of 0.6% a year earlier.

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