Croatia: Annual drop in consumer prices softens in June
July 14, 2016
In June, consumer prices declined 0.1% over the previous month, which contrasted May’s 0.2% increase. According to the Croatian Bureau of Statistics (CBS), the decrease was mainly driven by a drop in prices for food and non-alcoholic beverages as well as in prices for clothing and footwear.
In annual terms, consumer prices fell 1.6% in June, which was up from May’s 1.8% decrease and marked the highest reading in four months. The annual average variation in consumer prices decreased further from May’s minus 1.0% to minus 1.1%, 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 0.4% month-on-month in June, which was down from May’s 0.3% drop and marked the lowest reading in five months. Core consumer prices fell 0.2%, contrasting May’s 0.1% increase.