Cheaper clothing & footwear prices down June inflation rate

10 Jul '06

2 min read

Statistical Office of the Republic of Slovenia released the Consumer Price Indices for June 2006.

It stated that in June 2006 monthly Inflation at -0.3 percent, annual inflation at 2.9 percent and the 12-month average rate at 2.5 percent.

Prices in June down by 0.3 percent
After high rates in the previous months, deflation was recorded in June. Compared to May 2006, consumer prices were down by 0.3 percent, while in the first six months of 2006 they rose by 2.1 percent.

The overall decrease in prices is the result of lower prices of goods, on average by 0.6 percent; prices of semi-durable goods dropped the most (by 0.9 percent), followed by non-durable goods with 0.6 percent and durable goods with 0.5 percent. On the other hand, prices of services continue to grow, this time they were up by 0.5 percent.

EMU convergence price index up again
The growth of prices measured with the harmonised index of consumer prices was also negative (-0.3 percent). Nevertheless, the 12-month average price growth measured with the EMU convergence price index grew to 2.6 percent.

According to the latest data for May 2006, the EMU convergence criterion for inflation was 2.7 percent, which means that Slovenia was 0.3 of a percentage point below the criterion.

The inflation rate pushed down by clothing, footwear and communications
In June prices decreased the most in the groups clothing and footwear and communications (by 1.1 percent), transport (by 0.8 percent), food and non-alcoholic beverages, and housing, water, electricity, gas and other (by 0.7 percent) and health (by 0.3 percent).

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