Consumer price indices, January 2023
Prices up at both levels: annually by 10.0%, monthly by 0.2%
In January 2023, consumer prices were on average higher by 10.0% annually and by 0.2% monthly. Both annual and monthly inflation were impacted the most by higher prices of food and non-alcoholic beverages, which were 19.3% higher at the annual level and 2.1% higher at the monthly level.
In January, annual inflation stood at 10.0% (in the same period last year 5.8%).
In one year, goods and service prices increased on average by 11.1% and 7.9%, respectively. Non-durable goods prices went up by 13.5%, durable goods prices by 7.9%, and semi-durable goods prices by 4.8%.
The biggest impact on the annual inflation, 3.2 percentage points, came from 19.3% higher prices of food and non-alcoholic beverages. 1.0 p.p. was added by 10.1% higher prices of services and products in the group recreation and culture. The prices of furnishings, household equipment and routine household maintenance rose by 12.3% and pushed inflation up by 0.9 p.p. Additional 0.8 p.p. each was added by higher prices of solid fuels (by 97.5%) and higher prices of services in restaurants and hotels (by 12.1%).
Monthly price growth at 0.2%
Compared to the previous month, consumer prices increased by 0.2%.
Monthly inflation was pushed up the most (by 0.4 p.p.) by 2.1% higher prices of food and non-alcoholic beverages. Additional 0.2 p.p. each was added by higher prices of alcoholic beverages and tobacco (by 3.9%) and higher prices of services in restaurants and hotels (by 2.3%).
Additional 0.1 p.p. each was added by higher prices of heat energy (by 6.8%), package holidays (by 4.2%), furniture and furnishings (by 2.1%), medical products, appliances and equipment (by 2.0%), new motor cars (by 2.0%) and miscellaneous goods and services (by 0.9%).
Winter sales influenced the fall of prices in the group clothing and footwear (by 8.8%), which pushed the inflation rate down by 0.6 p.p. Cheaper petroleum products (liquid fuels by 10.5%, fuels and lubricants for personal transport equipment by 7.6%) pushed monthly inflation down by 0.4 p.p. Monthly growth rate was also pushed down by 0.1 p.p. each by 5.4% cheaper solid fuels and 3.7% cheaper out-patient services.
Harmonised indices of consumer prices
Measured with the harmonised index of consumer prices, in January 2023 the annual growth of consumer prices was 9.9% (in January 2022 it was 6.0%). The monthly price growth was −0.1%.
On average, goods prices went up by 11.0% and service prices by 7.6%. Non-durable goods prices went up by 13.9%, durable goods prices by 6.1% and semi-durable goods prices by 4.9%.
Measured with the harmonised index of consumer prices, in December 2022 the annual inflation rate in the EMU countries was 9.2% (a month before 10.1%). In the EU-27 Member States it was 10.4% (a month before 11.1%). The lowest annual inflation rate was recorded in Spain (5.5%) and the highest in Hungary (25.0%); in Slovenia it stood at 10.8%.
Table with the latest data is available in the SiStat Database.
Consumer price indices, Slovenia
|
Growth rates of harmonised consumer prices, Slovenia
1) Indices. |
New developments and methodological changes in 2023
As in the previous years, weights were changed at the beginning of the year. They are now based on the average of expenditure from the 2018 Household Budget Survey recalculated to December 2022 prices. We also took into account major changes in HICP weights, which were made on the basis of estimated national accounts data on household expenditure for 2022, in accordance with Eurostat recommendations. Weights for the harmonised index of consumer prices for 2023 are thus based on the final data for 2021 and estimated data from national accounts for 2022, taking into account the average change between the 2022 average and December 2022, which is also the price reference period.
At the same time, we also updated the list of other goods and services and the outlets where prices are collected.
From 2023 on, data on the Harmonized Consumer Price Index at constant tax rates (HICP-CT) will no longer be published in a separate release. The tax changes will be explained as part of the CPIs first release for December.
In 2023, we changed the methodology for calculating indices for some elementary aggregates in the field of computer equipment. Instead of targeted scraping, we introduced mass web scraping and introduced classification into homogeneous groups of products, which are the basis for calculating indices.
.jpg)
