In February, Slovenian industrial producer prices remained unchanged month-on-month, while year-on-year growth slowed to 1.5% (from 1.9%). This slowdown was mainly due to a more marked moderation in price growth in foreign markets, which, amid a month-on-month price decline and, in particular, a relatively high base from the previous year, remained almost unchanged year-on-year (0.1% growth). Year-on-year price growth on the domestic market increased compared to January by nearly half, reaching 2.9%. More than two-thirds of the increase was driven by higher prices of raw materials (2.3% year-on-year) and consumer goods (3.5%). Growth in the prices of the latter moderated somewhat and was the lowest since June last year. The most pronounced increase was recorded in energy prices (5.7%). Prices of capital goods were also higher year-on-year (1.5%).

According to the SRDAP, the number of persons in employment in January was similar to previous months (seasonally adjusted) and to the level a year earlier. The number of employees was slightly lower year-on-year (–0.1%), while the number of self-employed was higher (1%). The largest year-on-year declines in the number of persons in employment were recorded in manufacturing (–1.6%) and trade (–1.4%). By contrast, the number of persons in employment increased in public service activities, particularly in human health and social work activities (3.8%). The number of foreign nationals in employment increased by 1.9% year-on-year in January, while the number of Slovenian nationals in employment declined by 0.3%, mainly due to retirements.

Year-on-year nominal growth in the average gross wage was high in January (6.7%), driven mainly by strong growth in the private sector (7.2%) and, to a lesser extent, in the public sector (5.5%). Growth in the private sector was primarily influenced by a 16% increase in the minimum wage. Compared to previous months, year-on-year wage growth accelerated particularly in trade, accommodation and food service activities, administrative and support service activities (including employment agencies), and construction, i.e. activities¹ with a relatively higher share of minimum wage recipients. In the public sector, growth remained relatively high, linked to the wage reform, the agreed increase in base wages at the beginning of last year, and collective bargaining agreements.
In real terms, the average gross wage increased by 4% year-on-year in January – by 4.5% in the private sector and 2.8% in the public sector.

The 12-month current account surplus amounted to EUR 2.6 billion, or 3.7% of estimated GDP, and was EUR 312.6 million lower than in the previous 12-month period. The decline was driven by the secondary income balance and the goods trade balance. The higher deficit in secondary income was mainly due to lower receipts of the general government sector and higher transfers by resident households to the rest of the world. The goods balance shifted into a deficit, largely due to a lower surplus in trade with non-EU countries. The services surplus increased, most notably in trade in transport services and in insurance services. The primary income deficit narrowed, mainly due to smaller net outflows of income from equity (dividends and profits) and higher income of Slovenian workers from employment abroad.