Croatia Inflation August 2016


Croatia: Annual drop in consumer prices stable in August

September 15, 2016

In August, consumer prices declined 0.2% over the previous month, which was a softer drop than July’s 0.7% decrease. According to the Croatian Bureau of Statistics (CBS), the monthly fall was mainly driven by drops in the prices of transport and of clothing and footwear.

In annual terms, consumer prices fell 1.5% in August, matching July’s five-month high reading. The annual average variation in consumer prices decreased further from July’s minus 1.2% to minus 1.3%, 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 0.1% month-on-month in August, which was up from July’s sharper 1.1% drop and marked the highest reading in four months. Core consumer prices fell 0.2% on an annual basis, matching July’s result.

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 August 2016

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

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