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Slovenia Business Week no. 13: Inflation Up to 2.3% in March

The monthly inflation rate for March was 1%, the first month this year that prices rose

Higher prices of clothes and housing in March pushed Slovenia's annual inflation 0.2 percentage points higher to 2.3%, the Statistics Office said on Friday, 30 March. The monthly inflation rate for March was 1%, the first month this year that prices rose.

According to the statisticians, prices of goods rose by 1.6% on average in March, whereas the prices of services edged 0.1% lower on average. Semi-durable goods contributed most to the overall rise in the consumer price index, as their prices rose by 5.1%.

The biggest price increase this month was registered in the clothing and footwear group, where prices rose by 7.2% on average due to the end of the seasonal sales. Meanwhile, prices in the housing group rose 1.2% due to higher heating and electricity bills.

According to head of the Statistics Office Irena Krizman, the trend in price increases this month is in line with the general trend for this time of the year.

Moreover, prices rose by 1.1% in the group of health products and services due to dearer medicines. The Statistics Office also noted a rise in bread and cereal prices, which contributed significantly to 0.9% rise in average food prices.

Meanwhile, prices in the recreation and culture group of products and service fell 0.6% in March, while communications products and services were 0.1% cheaper on average.

The average annual inflation rate remained unchanged at 2.7%, while the consumer price index according to the EU's harmonised index was at 2.6% for the year to March.

Source: Slovenian Press Agency STA

Author: STA, Slovenian National Press Agency