Consumer price indices, Slovenia, February 2016

Prices in February 2016 on average the same at the monthly level and 0.7% lower at the annual level

In February 2016 deflation was recorded at the annual level (−0.7%), while at the monthly level prices were on average the same. In one year goods prices went down by 1.1%, while service prices went up by 0.1%.

29 February 2016 at 10:30
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Mojca Zlobec
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Annual growth of consumer prices also negative in February

In February 2016, too, the annual growth of consumer prices was negative (−0.7%); in February 2015 it was −0.4%. The 12-month average price growth was −0.6% (in the same period last year it was 0.1%).

In one year, goods prices went down on average by 1.1%, while service prices went up on average by 0.1%. As regards goods, non-durable goods prices went down by 1.5% and durable goods prices by 0.8%. Semi-durable goods prices went up by 0.5%.

Compared to February 2015, prices decreased the most in the group transport (by 5.5%), followed by recreation and culture (by 2.4%), and housing, water, electricity, gas and other (by 1.1%). On average higher than a year ago were the prices in the groups communication (by 2.9%), restaurants and hotels (by 2.1%), clothing and footwear (by 0.8%), food and non-alcoholic beverages (by 0.5%), furnishing, household equipment and maintenance (by 0.4%), miscellaneous goods and services (by 0.4%), health (by 0.4%) and alcoholic beverages and tobacco (by 0.2%). Prices in the group education were the same.

The greatest impact on the annual deflation (0.9 p.p.) came from lower prices of petroleum products. Liquid fuel prices went down by 23.0% and the prices of fuels and lubricants by 12.7%. In addition, 0.2 p.p. were contributed by 7.4% lower prices of package holidays and 0.1 p.p. each by 21.9% lower prices of passenger transport by air and by 6.0% lower prices of gas.

On the other hand, the deflation was offset by 0.1 p.p. each by higher prices of accommodation services in hotels (up by 12.2%), electricity (up by 3.6%), shoes and other footwear (up by 3.3%), telephone and internet services (up by 3.3%), municipal and other services (up by 2.1%) and food (up by 0.4%).

Prices at the monthly level were the same

The prices in February 2016 were on average the same as in January 2016. The greatest impact (0.2 p.p.) came from lower prices of petroleum products. Liquid fuel prices went down by 5.6% and the prices of fuels and lubricants by 2.5%. In addition, 0.1 p.p. each were contributed by higher prices of garments (by 1.1%) and furniture and furnishings (by 2.0%).

Harmonised indices of consumer prices

Measured with the harmonised index of consumer prices, in February 2016 the annual growth was −0.9% (down from −0.5% in February 2015). The 12-month average price growth was −0.8% (in the same period last year 0.2%). The prices at the monthly level were on average the same.

In one year, goods prices went down on average by 1.8%, while service prices went up on average by 0.6%. As regards goods, non-durable goods prices went down by 2.1% and durable goods prices by 0.8%. Semi-durable goods prices were on average the same as in February 2015.

Compared to February 2015, prices decreased the most in the group transport (by 5.7%), followed by recreation and culture (by 1.8%).

On the other hand, prices increased the most in the group communication (by 2.7%), followed by restaurants and hotels (by 2.3%), clothing and footwear (by 0.5%), health (by 0.3%), food and non-alcoholic beverages (by 0.3%), miscellaneous goods and services (by 0.2%), education (by 0.2%), furnishing, household equipment and maintenance (by 0.2%), and alcoholic beverages and tobacco (by 0.1%).

Measured with the harmonised index of consumer prices, in January 2016 the annual inflation rate in the EMU countries was 0.3% (up from 0.2% in December 2015), while in the EU-28 it was 0.2% (the same as in December 2015). The lowest annual inflation rate was recorded in Poland (−1.7%) and the highest in Belgium (1.8%); in Slovenia it stood at −0.8%.

Chart 1: Annual growth rates of consumer prices, Slovenia

Source: SURS

Table 1: Consumer price indices, Slovenia

	II 16 II 15	II 16 I 16	II 16 XII 15	I−II 16 I−II15	II 16−III 15 II 15−III 14	II 16 Ø 15
Total	99.3	100.0	98.7	99.4	99.4	98.42
1 Food and non-alcoholic beverages	100.5	100.2	100.4	100.5	101.1	99.80
2 Alcoholic beverages and tobacco	100.2	100.0	100.4	100.2	101.3	100.24
3 Clothing and footwear	100.8	101.4	87.6	100.5	99.2	92.42
4 Housing, water, electricity, gas and other	98.9	99.4	98.5	99.1	98.9	98.25
5 Furnishing, household equipment and maintenance	100.4	100.9	101.1	99.9	99.0	100.70
6 Health	100.4	99.9	99.2	100.2	100.5	99.58
7 Transport	94.5	99.1	97.1	95.0	94.8	94.53
8 Communications	102.9	101.0	101.1	104.1	101.9	102.70
9 Recreation and culture	97.6	100.0	100.3	97.9	100.0	98.06
10 Education	100.0	99.8	99.8	100.1	100.5	99.88
11 Restaurants and hotels	102.1	100.7	100.8	101.7	100.6	101.42
12 Miscellaneous goods and services	100.4	99.9	99.7	100.5	101.3	99.99

Goods	98.9	99.9	97.9	99.0	98.9	97.65
Services	100.1	100.4	100.4	100.2	100.6	100.09

Source: SURS

Table 2: Growth rates of harmonised consumer prices, Slovenia

	II 16 II 15	II 16 I 16	II 16 XII 15	I−II 16 I−II 15	II 16−III 15 II 15−III 14	II 16¹⁾ Ø 15
Total	-0.9	0.0	-1.3	-0.8	-0.8	98.36
1 Food and non-alcoholic beverages	0.3	0.3	0.4	0.2	0.7	99.67
2 Alcoholic beverages and tobacco	0.1	0.0	0.3	0.1	1.4	100.16
3 Clothing and footwear	0.5	1.4	-13.4	0.1	-1.3	91.70
4 Housing, water, electricity, gas and other	-1.5	-0.4	-1.5	-1.4	-1.8	97.98
5 Furnishing, household equipment and maintenance	0.2	0.7	1.0	-0.4	-1.1	100.43
6 Health	0.3	-0.1	-0.8	0.1	0.7	99.55
7 Transport	-5.7	-1.0	-3.1	-5.1	-5.4	94.31
8 Communications	2.7	0.9	1.0	3.8	1.6	102.54
9 Recreation and culture	-1.8	-0.1	0.3	-1.4	0.1	98.62
10 Education	0.2	-0.1	-0.1	0.4	0.8	100.04
11 Restaurants and hotels	2.3	0.8	0.9	1.9	0.7	101.58
12 Miscellaneous goods and services	0.2	-0.2	-0.2	0.3	1.1	99.84

Goods	-1.8	-0.2	-2.3	-1.7	-1.6	97.17
Services	0.6	0.4	0.4	0.6	0.7	100.43