November 2, 2023
Annual inflation primarily a reflection of more expensive food and electricity
At the annual level, inflation stood at 6.9% (in the same period last year it was 9.9%).
In one year, service prices increased on average by 8.1% and goods prices by 6.3%. As regards goods, non-durable goods prices went up by 8.5%, semi-durable goods prices by 3.2% and durable goods prices by 0.4%.
The greatest impact on annual inflation (1.3 percentage points) came from 7.3% higher prices of food and non-alcoholic beverages. 0.8 p.p. was contributed by 24.3% higher electricity prices, followed by 7.1% higher prices in the group recreation and culture, which added 0.7 p.p.
On the other hand, the inflation was pushed down by 0.2 p.p. each by cheaper solid fuels (by 14.1%) and purchase of vehicles (by 2.7%).
Higher prices of clothing, lower prices of package holidays
Compared to the previous month, consumer prices increased by 0.2%.
New lines in stores continued to have an impact on the prices in the group clothing and footwear, which increased by 2.5%, raising the inflation rate by 0.2 p.p. In addition, 0.1 p.p. each was added by higher prices of fresh fruit (by 8.4%), of liquid fuels (by 5.7%), of diesel (by 3.9%), of pharmaceutical products (by 2.3%) and of miscellaneous goods and services (by 0.9%).
On the other hand, monthly inflation was eased (by 0.2 p.p.) by cheaper package holidays (by 5.6%), followed by 0.1 p.p. each by lower prices of heat energy (by 5.3%), of accommodation services (3.6%) and all other price decreases in October.
Harmonised indices of consumer prices
Measured with the harmonised index of consumer prices, the annual growth of consumer prices was 6.6% (in October 2022: 10.3%). The monthly price growth was 0.3% (previous month 0.7%).
On average, service prices went up by 7.9% and goods prices by 6.0%. Non-durable goods prices increased by 8.3% and semi-durable goods prices by 3.4%, while durable goods prices went down by 0.7%.
Measured with the harmonised index of consumer prices, in September the annual inflation rate in the EMU countries was 4.3% (a month before 5.2%). In the EU-27 Member States, it was 4.9% (a month before 5.9%). The lowest annual inflation rate was recorded in the Netherlands (–0.3%) and the highest in Hungary (12.2%); in Slovenia it stood at 7.1%.
Source: Statistical Office of the Republic of Slovenia
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