Slovenia: Inflation comes in at highest level since September 2008 in December
Consumer prices fell 0.01% in December over the previous month, swinging from November’s 0.70% rise. December’s result marked the weakest reading since September. Looking at the details of the release, prices for food and non-alcoholic beverages rose in December, having fallen in the previous month. In contrast, prices for transportation dropped after growing in the previous month. Meanwhile, electricity, gas and other fuels prices rose at a weaker pace.
Inflation rose to 4.9% in December, above November’s 4.6%. December’s figure marked the highest inflation rate since September 2008. Meanwhile, the trend pointed up, with annual average inflation coming in at 1.9% in December (November: 1.4%). Lastly, harmonized inflation ticked up to 5.1% in December, from the previous month’s 4.9%.
On the outlook, analysts at Erste Bank highlighted:
“Inflation pressures will most likely remain pronounced […] heading into [2022], reflecting global energy and commodity price developments, hence supply-side developments. Meanwhile, we continue to see demand-side pressures staying balanced.”