Wednesday

18th Oct 2017

Slovenians see price hikes after euro arrival

The Slovenian Consumers' Association has warned that a wide range of price increases have been registered across the country, as businesses opened and began trading in euros on Wednesday (3 January) on the first working day of the New Year.

Slovenia joined the eurozone on 1 January replacing its 15 year-old tolar with the euro. One euro equals 239.64 tolars.

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  • Cafe in Ljublana: price hikes have mainly hit the capital (Photo: European Commission)

"Prices of coffee, tea, lunches or breakfasts are increasing all over Slovenia," Breda Kutin from the association told Slovenian state radio, according to AFP.

She added that the association had so far received more than 500 reports from consumers complaining about price increases in restaurants and coffee shops all over the country.

"The increase of prices is not a good long-term move since the changeover did not increase the revenues of citizens," Ms Kutin explained.

The consumers' association has published a list of retailers who have already raised prices and has advised customers to avoid them, according to AFX.

The around 2 million Slovenes have a two-week dual circulation period before all payments in Slovenia will from 15 January run in euros only.

Citizens will still be able to change tolar bills and coins into euros in all the banks.

"The euro cash changeover is proceeding well and fully according to plan," the European Central Bank said in a statement on Wednesday, referring to the overall introduction of the EU currency in Slovenia.

A recent EU survey showed two-thirds of Slovenes are happy to adopt the new currency, seeing it as a final step in becoming a part of the European mainstream.

The Alpine state is the first country of the new member states which joined the EU in 2004 to also enter the eurozone.

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