Slovenia’s annual inflation stays flat at 11% in August

Slovenia’s annual inflation stays flat at 11% in August
/ bne IntelliNews
By bne IntelliNews August 31, 2022

Slovenia’s annual inflation in August remained at the same level as in the previous month at 11% (chart), the statistics office said on August 31. In the first eight months of the year, inflation was 8.2%.

Annual inflation in August was influenced the most by higher prices of fuels, electricity and food. According to the European Commission, Slovenia's inflation is seen at 6.1% in 2022 and 3.3% in 2023.

In August, the largest impact on annual inflation (4.1 pp) came from 36.7% higher prices of fuels and energy. Prices of solid fuels increased by 66.6%, of gas by 47.4%, of liquid fuels by 40.9%, of heat energy by 40.6% and of electricity by 33.3%.

Higher prices of food by 14.1%, contributed to the annual inflation by 2.1 pp.

Month on month, Slovenia’s consumer price index was flat, following a growth of 1% in July.

Measured with the harmonised index of consumer prices, the annual growth of consumer prices in August was 11.5%, compared to inflation of 2.1% in the same month in 2021. On a monthly level it moved down by 0.1%.

In 2021, Slovenia posted average inflation of 1.9%, following 0.1% deflation a year earlier.