Annual consumer inflation in Slovenia was 10 percent in January, or 0.3 percentage points lower than the previous month, but still above consumer inflation in the euro area.

Food prices were the main driver of inflation, reports the "Slovenia Times" website.

According to the latest data from the Slovenian Statistical Office, published yesterday, the prices of food and soft drinks rose by 19.3 percent year-on-year and by 2.1 percent month-on-month.

According to the EU's harmonized index of consumer prices, annual inflation in Slovenia was 9.9 percent in January, while in the euro zone it was 8.5 percent according to preliminary estimates.

Goods have increased in price by an average of 11.1 percent, and services by 7.9 percent for the year.

The prices of goods with short-term use increased the most - by 13.5 percent.

Higher food and soft drink prices contributed 3.2 percentage points to headline inflation.

Solid fuels have increased in price by 97.5 percent, and services in restaurants and hotels - by 12.1 percent. 

From December to January, consumer prices rose by 0.2 percent, although according to the EU's harmonized index, Slovenia reported deflation of 0.1 percent on a monthly basis.

Aiming to reduce inflation, the European Central Bank recently raised its interest rates for the fifth time in a row by 50 basis points, announcing another hike in March.

Slovenia's central bank governor Boštan Vasle and member of the ECB's Governing Council said in an interview with the STA agency that they are determined to continue raising interest rates as inflation is far from under control.

Slovenia

inflation