Croatia Inflation March 2016


Croatia: Record fall in annual consumer prices tallied in March

April 14, 2016

In March, consumer prices grew 0.7% over the previous month, which contrasted February’s 0.3% decrease and marked a one-year high. According to the Croatian Bureau of Statistics (CBS), the increase was mainly driven by double-digit growth in the prices of clothing and footwear—which followed three months of decreasing prices due to seasonal factors—and marginally by an increase in transport prices.

In annual terms, consumer prices fell 1.7% in March, which followed February’s 1.4%, thus marking the lowest reading on record. Annual average consumer prices decreased from February’s minus 0.5% to a 0.7% drop in March, which represented a multi-year low.

The core consumer price index, which does not include more volatile categories such as fresh food and energy, increased 1.4% month-on-month in March, which contrasted February’s 0.2% decrease. Core inflation grew from February’s flat reading to 0.6% growth in February.

FocusEconomics Consensus Forecast panelists expect inflation to average 0.1% in 2016, which is down 0.2 percentage points from last month’s forecast. For 2017, the panel sees inflation of 1.5%.

Author: Massimo Bassetti, Senior Economist

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Croatia Inflation Chart

Croatia Inflation March 2016

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

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