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Europe Daily Bulletin No. 9575
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GENERAL NEWS / (eu) eu/euro

Euro is responsible for 0.6% inflation, says Janez Jansa

Ljubljana, 08/01/2008 (Agence Europe) - The annual rate of inflation in Slovenia in November 2007 was 5.7%, the highest in the eurozone (where the average is 3.1%). The inflationary surge is one of the “main problems” facing the country, but this high rate can be explained partly by the introduction of the euro on 1 January 2007, Slovenia's Prime Minister Janez Jansa told European journalists in Ljubljana on 7 January. The European Commission had estimated the share of inflationary responsibility held by introduction of the euro in Slovenia at 0.3% but, “in fact, the euro has caused a 0.6% rise in inflation”, as many prices have been rounded upwards, Mr Janez explained. “This has been unavoidable”, the prime minister said with regret. He stressed, however, that the Slovenians were very pleased that they had joined single currency. In 2007, the country had the highest rate of growth in the eurozone, reaching over 6%. (H.B.)

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