Higher electricity prices push up Slovenia’s inflation in April

Higher electricity prices push up Slovenia’s inflation in April
By bne IntelliNews May 2, 2021

Slovenia’s consumer price index (CPI) went up by 2.1% year on year in April, speeding up from a slim 0.1% inflation a month earlier, and was mostly a result of higher electricity prices, the statistics office said on March 30.

On a monthly basis, Slovenia’s CPI increased 1% in April after moving up 0.3% in March.

The largest impact on the annual inflation of 1 percentage point (pp) came from higher prices of electricity (+40.4%), which are now back to pre-pandemic levels.

In March 2020, electricity prices significantly decreased due to the government decree on temporary non-payment of contributions.

Higher prices of petroleum products contributed to additional 0.8 pp increase of overall inflation. The prices of liquid fuels jumped by 30.4% and the prices of fuels and lubricants for personal transport equipment were higher by 16.9% in April.

The annual growth rate was pushed down by 0.4 pp as a result of 9.2% lower prices of package holidays.

In the first four months, Slovenia posted a slim inflation of 0.1%.

Measured against the harmonised index of consumer prices, in April, consumer prices moved up by 2.2% y/y, and rose 0.8% m/m.