Croatia Inflation October 2016


Croatia: Annual drop in consumer prices eases in October

November 17, 2016

In October, consumer prices rose 0.4% from the previous month, which followed September’s stronger 1.0% increase and marked the highest reading in four years. According to the Croatian Bureau of Statistics (CBS), the monthly increase was mainly driven by higher prices for clothing and footwear—due to new collections—, for transport and for education.

In annual terms, consumer prices fell 0.5% in October, which was up from September’s 0.9% decline and marked a 15-month high. The annual average variation in consumer prices in October inched up to minus 1.2% from September’s multi-year low of minus 1.3%.

The core consumer price index, which does not include more volatile categories such as fresh food and energy, grew 0.6% month-on-month in October. This followed September’s 1.5% increase, which had marked the highest reading since August 2002. Core consumer prices rose 0.1% on an annual basis, contrasting September’s 0.1% drop.

FocusEconomics Consensus Forecast panelists expect prices to fall 0.9% in 2016, which is down 0.1 percentage points from last month’s forecast. For 2017, the panel sees inflation of 1.1%, which is up 0.1 percentage points from last month’s projection.

Author: Massimo Bassetti, Economist

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Croatia Inflation Chart

Croatia Inflation October 2016

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

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