FX.co ★ Slovenia Inflation Rises To 1.9%, Highest In 7 Months

Slovenia witnessed a slight uptick in consumer price inflation at the close of the year, reaching its highest point in seven months, according to Monday's release from the Statistical Office of the Republic of Slovenia.

The consumer price index showed a 1.9 percent increase year-on-year in December, marginally exceeding the 1.7 percent rise observed in November. This marked the steepest inflation rate since May, when prices saw a 2.5 percent increase.

Utility costs saw an accelerated annual growth, rising to 1.3 percent from just 0.1 percent, while expenses for food and non-alcoholic beverages increased at a more rapid rate of 2.6 percent. Transport costs experienced a rebound, growing by 1.2 percent compared to a 1.8 percent decline in November.

On a monthly basis, consumer prices fell by 0.3 percent in December, counteracting the 0.7 percent increase from the previous month. The average annual inflation rate for 2024 stood at 2.0 percent, compared to the previous year.

The Harmonized Index of Consumer Prices (HICP), an EU standard measure of inflation, rose by 2.0 percent annually in December, after a 1.6 percent increase in November. Monthly prices saw a slight decrease of 0.1 percent.

Separate official statistics revealed that import prices decreased by 1.2 percent year-on-year in December, a slower decline compared to the 3.0 percent drop recorded in the previous month. Compared to November, import prices rose by 0.9 percent, primarily due to a significant 46.4 percent increase in import costs for utilities.