Consumer price indices, January 2024
Inflation is easing: annual at 3.3%, monthly at −0.6%
At the annual level, consumer prices were on average higher by 3.3%. At the monthly level deflation was recorded (−0.6%), which was mainly the result of winter sales of clothing and footwear.
Annual price growth lower again
Annual inflation stood at 3.3% in January (in the same period last year 10.0%).
In one year, service prices went up on average by 4.6% and goods prices by 2.7%. As regards goods, non-durable and semi-durable goods prices went up by 3.9% and 2.1%, respectively, while durable goods prices went down by 1.3%.
The greatest impact on the annual inflation, 0.6 of a percentage point, came from higher prices of food and non-alcoholic beverages (by 3.2%), followed by 0.5 p.p. each from higher prices in the groups housing, water, electricity, gas and other fuels (by 3.6%) and health (by 9.4%).
Winter sales pushed monthly inflation down
In contrast to January of the previous two years, on a monthly basis, a 0.6% deflation was recorded.
Monthly price drop was mostly the result of winter sales of clothing and footwear (prices down by 8.3%), which contributed 0.6 p.p. to the deflation rate. Additional 0.2 p.p. each were added by cheaper motor fuels (petrol prices decreased by 4.7% and diesel prices by 4.5%) and package international holidays (by 12.0%). Natural gas prices also fell noticeably (by 9.7%) and contributed 0.1 p.p. to deflation.
On the other hand, the monthly deflation rate was reduced by 0.2 p.p. by 5.0% higher electricity prices. Additional 0.1 p.p. each was added by higher prices of natural gas (by 7.7%), package domestic holidays (by 4.1%) and meat (by 1.3%).
Harmonised indices of consumer prices
Measured with the harmonised index of consumer prices, the annual growth of consumer prices was 3.4% (in January 2023 it was 9.9%). The monthly price growth was −0.6%.
At the annual level, service prices went up on average by 5.3% and goods prices by 2.3%. As regards goods, non-durable goods prices went up by 3.5% and semi-durable goods prices by 2.4%, while durable goods prices went down by 2.0%.
Measured with the harmonised index of consumer prices, in December 2023 the annual inflation rate in the EMU countries was 2.9% (a month before 2.4%). In the EU-27 Member States it was 3.4% (a month before 3.1%). The lowest annual inflation rate was recorded in Denmark (0.4%) and the highest in Czechia (7.6%); in Slovenia it stood at 3.8%.
The table with the latest data is available in the SiStat Database.
Annual inflation stood at 3.3% in January (in the same period last year 10.0%).
In one year, service prices went up on average by 4.6% and goods prices by 2.7%. As regards goods, non-durable and semi-durable goods prices went up by 3.9% and 2.1%, respectively, while durable goods prices went down by 1.3%.
The greatest impact on the annual inflation, 0.6 of a percentage point, came from higher prices of food and non-alcoholic beverages (by 3.2%), followed by 0.5 p.p. each from higher prices in the groups housing, water, electricity, gas and other fuels (by 3.6%) and health (by 9.4%).
Winter sales pushed monthly inflation down
In contrast to January of the previous two years, on a monthly basis, a 0.6% deflation was recorded.
Monthly price drop was mostly the result of winter sales of clothing and footwear (prices down by 8.3%), which contributed 0.6 p.p. to the deflation rate. Additional 0.2 p.p. each were added by cheaper motor fuels (petrol prices decreased by 4.7% and diesel prices by 4.5%) and package international holidays (by 12.0%). Natural gas prices also fell noticeably (by 9.7%) and contributed 0.1 p.p. to deflation.
On the other hand, the monthly deflation rate was reduced by 0.2 p.p. by 5.0% higher electricity prices. Additional 0.1 p.p. each was added by higher prices of natural gas (by 7.7%), package domestic holidays (by 4.1%) and meat (by 1.3%).
Harmonised indices of consumer prices
Measured with the harmonised index of consumer prices, the annual growth of consumer prices was 3.4% (in January 2023 it was 9.9%). The monthly price growth was −0.6%.
At the annual level, service prices went up on average by 5.3% and goods prices by 2.3%. As regards goods, non-durable goods prices went up by 3.5% and semi-durable goods prices by 2.4%, while durable goods prices went down by 2.0%.
Measured with the harmonised index of consumer prices, in December 2023 the annual inflation rate in the EMU countries was 2.9% (a month before 2.4%). In the EU-27 Member States it was 3.4% (a month before 3.1%). The lowest annual inflation rate was recorded in Denmark (0.4%) and the highest in Czechia (7.6%); in Slovenia it stood at 3.8%.
The table with the latest data is available in the SiStat Database.
Growth rates of consumer prices, Slovenia
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Harmonised indices of consumer prices, Slovenia
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METHODOLOGICAL NOTE
As in the previous years, weights were changed at the beginning of the year. Weights for the consumer price index are now based on the average of expenditure from the 2022 Household Budget Survey recalculated to December 2023 prices. Weights for the harmonised index of consumer prices for 2024 are in accordance with Eurostat recommendations based on the final data for 2022 and estimated data from national accounts for 2023, taking into account the average change between the 2023 average and December 2023, 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.
Additional explanations are available in the methodological explanations.
At the same time, we also updated the list of other goods and services and the outlets where prices are collected.
Additional explanations are available in the methodological explanations.
When making use of the data and information of the Statistical Office of the Republic of Slovenia, always add: "Source: SURS". More: Copyright.
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