Year-on-year nominal growth in the average gross wage remained broadly unchanged in August (5.8%) compared with July, but was lower than in the preceding months. This reflected slower, though still robust, growth in the public sector (7.7%), while wage growth in the private sector remained largely stable (4.6%). In the public sector, year-on-year growth has moderated over the past three months, following strong increases at the beginning of the year due to the implementation of the wage reform. In our assessment, this is attributable not only to the higher base from last year but also to the moderation in the current growth of certain payments. In the private sector, growth continues to be supported, in our assessment, by excess demand for labour in certain parts of the economy. 
In the first eight months, the overall average gross wage increased by 4.6% in real terms – by 7.3% in the public sector and by 3% in the private sector.

In September, Slovenian industrial producer prices declined by 0.2% month-on-month, with year-on-year growth also easing (to 0.7%). Year-on-year price growth in the domestic market slowed (by 0.6 p.p.) to 0.9%, whereas on foreign markets it remained broadly unchanged at 0.5%. By main industrial groups, the highest year-on-year growth continued to be observed in consumer goods prices, which averaged around 3.5% over the past three months.  This was largely driven by an increase in non-durable consumer goods prices (4.1%), underpinned, according to our assessment, by relatively stable yet elevated price growth in the manufacture of food products (4.9%) and beverages (5.5%). The year-on-year growth in durable goods prices remained around 1%, while in the intermediate goods group it was moderate (0.3%). Prices of capital goods were unchanged year-on-year amid subdued economic activity, while energy prices fell by 8%, influenced by both the month-on-month fall (-1.5%) and the impact of a higher base in the same period last year.