Croatia Inflation May 2016


Consumer prices hit all-time low in May

In May, consumer prices rose 0.2% over the previous month, which was slightly up from April’s 0.1% increase. According to the Croatian Bureau of Statistics (CBS), the increase was mainly driven by growth in prices for food and non-alcoholic beverages as well as in prices for transport.

In annual terms, consumer prices fell 1.8% in May, which was down from April’s 1.7% decrease and marked the lowest reading on record. Annual average variation in consumer prices decreased further from April’s minus 0.8% to minus 1.0% in May, which represented a multi-year low.

The core consumer price index, which does not include more volatile categories such as fresh food and energy, fell 0.3% month-on-month in May, contrasting April’s 0.4% increase and marking the lowest rate in four months. Core inflation decreased from April’s 0.5% to 0.1% in May.

FocusEconomics Consensus Forecast panelists expect prices to fall 0.3% in 2016, which is up 0.1 percentage points from last month’s forecast. For 2017, the panel sees inflation of 1.3%.

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Croatia Inflation Chart

Croatia Inflation May 2016

Note: Year-on-year and month-on-month variation of consumer prices in %.
Source: Croatian Bureau of Statistics (CBS)

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