Clothing & footwear prices go up in Oct CPI

06 Nov '06

2 min read

Statistical Office of the Republic of Slovenia released the October 2006 Consumer Price Indices (CPI).

After a modest rise in consumer prices in the past two months, in October an unexpectedly large fall was recorded. Compared to the previous month, in October consumer prices namely dropped by 0.8%. In the first ten months of 2006 prices grew by 2% or 0.8 of a percentage point less than in the same period last year.

The high deflation in October is the result of lower prices of both goods and services (both on average by 0.8%). Among goods, prices of non-durable goods fell by 2.3%, while prices of semi-durable and durable goods were 3.7% and 0.9% higher. Similarly to September, prices of services were down; the greatest fall was recorded at municipal services (on average by 13.6%) and at package holidays (by 9.3%).

The growth of prices measured with the harmonised index of consumer prices was also negative at -0.7%, which is why the 12-month average price growth measured with the EMU convergence price index decreased to 2.5%.

According to the latest data for September 2006, the EMU convergence criterion for inflation was 2.8%, which means that Slovenia was 0.2 of a percentage point below the value.

Higher prices of clothing and footwear curbed the deflation
The arrival of autumn/winter collection of clothes and footwear caused a considerable increase in prices in the group clothing and footwear. Clothes were on average 7.3% more expensive, while prices of footwear were up by 2%.

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