Year-on-year growth in Slovenian industrial producer prices slowed slightly in April (to 1%); the growth rate was the same on both domestic and foreign markets. Consumer goods prices continued to rise at the fastest pace year-on-year, maintaining a growth rate of 3%. Within this group, the growth of non-durable goods prices accelerated again, reaching 4.4% – the highest rate since October 2023 – while the decline in durable goods prices deepened further (-2.2%), reflecting a somewhat higher base. Year-on-year growth in intermediate goods prices remained moderate (around 0.7%), and growth of capital goods prices was even more subdued (0.3%). Energy prices were 4.2% lower year-on-year, following a monthly decline in the electricity, gas and steam supply sector (-3.9%).

Year-on-year nominal growth in the average gross wage was slightly higher in March (6.6%) than in January and February, primarily due to stronger growth in the private sector (6.3%). In our assessment, this is attributable not only to last year's lower base, but also to excess demand for labour in certain segments of the economy, as indicated by the increase in the job vacancy rate in the first quarter. In the public sector, year-on-year growth remained high (10.9%) due to the agreed increase in basic wages at the beginning of the year (as part of the wage reform). In real terms, the average gross wage increased by 5.8% in March – by 4.2% in the private sector and by 8.7% in the public sector.