Croatia Inflation


Croatia: Annual consumer prices in January record unprecedented drop

February 20, 2015

In January, consumer prices fell 0.6% over the previous month, coming in above December’s 0.8% decrease and marking the lowest decline since November last year. According to the Croatian Bureau of Statistics (CBS), the print mainly reflected lower prices for transport and clothing and footwear.

In annual terms, consumer prices declined 0.9% in January, coming in further below December’s 0.5% decrease and marking the steepest drop on record. The overall trend continued to fall as annual average consumer prices inched down from December’s 0.2% decline to a 0.3% decrease in January.

Meanwhile, the core consumer price index, which does not include more volatile categories such as fresh food and energy, fell 0.7% over the previous month, coming in above December’s 0.9% drop. Core inflation rose 0.8% over the same month last year, exceeding December’s 0.7% increase slightly.

FocusEconomics Consensus Forecast panelists expect that inflation will end 2015 at 0.7%, which is unchanged from last month’s forecast. For 2016, the panel sees inflation at 1.4%.

Author: Teresa Kersting, Economist

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Croatia Inflation Chart

Croatia Inflation January 2014

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

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