Croatia Inflation June 2016


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.

FocusEconomics Consensus Forecast panelists expect prices to fall 0.7% in 2016, which is down 0.4 percentage points from last month’s forecast. For 2017, the panel sees inflation of 1.2%.

Author: Massimo Bassetti, Economist

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Croatia Inflation Chart

Croatia Inflation June 2016 3

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

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