Business news

Annual deflation of 1% recorded in February on cheaper fuel

Ljubljana, 26 February (STA) - Slovenia recorded an annual deflation of 1% in February as prices of goods were down 1.3% compared to the same month in 2020 and prices of services dropped by 0.5%. Significantly cheaper petroleum products contributed the most to the annual deflation


Prices of fuel and lubricants for motor vehicles were down by 10% and prices of liquid fuels by 3.5%, contributing as much as 0.5 of a percentage point to the annual deflation in February.

On the other hand, a 5.3% increase in prices of tobacco products offset the annual deflation by 0.2 of a percentage point.

On the monthly level, a 0.3% inflation was recorded in Slovenia in February, mostly due to prices of holiday packages increasing by 8.9% and prices of fuel and lubricants for motor vehicles by 3.9%.

Prices of furniture and housing equipment were up by 1.7% and food was 0.5% more expensive than in January, the Statistics Office said on Friday.

Measured with the harmonised index of consumer prices, the EU benchmark, Slovenia's annual growth of consumer prices was -1,1%, compared to +2% in February 2020, and the monthly price growth was 0.2%.