Financial News: Slovenia Inflation Accelerates For Third Month

Slovenia Inflation Accelerates For Third Month

02/06/2025 - 08:06:00 (RTTNews)

(RTTNews) - Consumer price inflation in Slovenia climbed for a third straight month in January, largely led by higher costs for services, transport and food, preliminary data from the statistical office showed Thursday.

The consumer price index rose 2.0 percent year-on-year following a <a href=https://www.rttnews.com/3499788/slovenia-inflation-rises-to-1-9-highest-in-7-months.aspx target=_blank >1.9 percent increase in December</a>. Inflation is now at the highest level since May last year when it was at 2.5 percent.

Among the CPI components, the biggest increase of 4.8 percent was registered in the restaurants and hotels segment. This was followed by a 3.5 percent rise in education costs. Transport costs were 3.0 percent higher. Health costs rose 2.4 percent. The CPI fell 0.4 percent from the previous month after a 0.3 percent decline in December. Prices slid for a second month in a row.

Inflation, based on the harmonized index of consumer prices, sharply accelerated to 2.3 percent in January from 1.7 percent in December, largely led by services costs.

The HICP, which is the EU measure of inflation, fell 0.3 percent from the previous month when it decreased 0.1 percent.

In December, the <a href=https://www.rttnews.com/3498234/bank-of-slovenia-lowers-2025-gdp-growth-projection.aspx target=_blank >Bank of Slovenia forecast headline inflation</a> to climb to 2.2 percent this year from 2.0 percent last year and stay at that level in 2026. The rate is forecast to drop to 2.1 percent in 2027.

The bank attributed the temporary strengthening of inflation at the end of 2024 and in the first months of 2025, mainly to rising food prices and base effects and the new system of calculating network charges for electricity prices.

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