Slovenia's annual inflation slows to 8.4 pct in May-Xinhua

Slovenia's annual inflation slows to 8.4 pct in May

Source: Xinhua| 2023-05-31 22:53:00|Editor: huaxia

LJUBLJANA, May 31 (Xinhua) -- Slovenia's annual inflation rate fell to 8.4 percent in May, down from 9.4 percent in April. It was the lowest in the past 12 months, the country's Statistical Office said on Wednesday.

Monthly inflation was 1.1 percent, down from 1.5 percent in April.

"Food prices had the biggest impact on the annual inflation, rising by 14.7 percent. Among food items, sugar prices went up the most by 45.9 percent," the office said in a report.

Prices of liquid fuels fell by 24.4 percent year-on-year and had an easing effect on inflation.

According to the office, there were "no notable price decreases in the last month."

Prices of goods increased on average by 8.4 percent year-on-year, while prices of services were up 8.3 percent.

Slovenia's inflation peaked in July and August last year, when it reached 11 percent year-on-year and was the highest in over 20 years.

The government hopes to bring inflation down to 5.1 percent year-on-year by the end of this year. The European Commission earlier in May forecast Slovenia's 2023 annual inflation rate at 7 percent.

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