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Slovenia Business Week no. 14/2005: March Inflation Rate Highest This Year

Consumer prices increased by 1.1% in March over February, bringing annual inflation to 3.1%

Consumer prices increased by 1.1% in March over February, bringing annual inflation to 3.1%. The highest monthly increase in inflation this year was mainly due to a hike in clothes and footwear prices, the national Statistics Office said on Thursday, 31 March.

The average annual inflation rate, measured with adjusted consumer price index, which is used for price growth comparison in the EU, stood at 3.3% in March. The monthly rate based on the index was 1%.

According to the Statistics Office, clothes and footwear prices increased by 7.5% with the closure of sales and the arrival of new collections in March. The month before prices in this group pushed inflation down 0.6%.

Higher prices of clothes (6.6%) and footwear (10.9%) contributed 0.6 percentage point to inflation. Dearer food added 0.3 percentage point, while higher oil prices contributed 0.2 percentage point to the monthly increase in consumer prices.

Retail prices increased by 1.1 percent in March over February, while they were up 4.8 percent year-on-year.

Source: Slovene Press Agency STA

Author: STA