Croatia Inflation

Croatia

Croatia: Consumer prices drop in June

July 16, 2014

In June, consumer prices fell 0.4% over the previous month, which contrasted May’s 0.3% price increase and marked the largest drop in eight months. According to the Croatian Bureau of Statistics (CBS), the print mainly reflected lower prices for clothing and footwear, food and non-alcoholic beverages as well as for furnishings, household equipment and routine home maintenance. In annual terms, consumer prices remained in the red in June, falling 0.4% over the same month last year, which was down from the 0.2% drop recorded in May. The overall trend continued to decrease as annual average inflation fell to 0.3% (May: 0.5%), the lowest value on record.

Meanwhile, the core consumer price index, which smoothens out more volatile categories such as fresh food and energy, fell 0.2% over the previous month and contrasted the 0.2% increase tallied in May. Core consumer prices rose 0.6% over the same month last year, coming in slightly above May’s 0.5% price increase.

FocusEconomics Consensus Forecast panelists expect that inflation will end 2014 at 1.6%, which is down 0.1 percentage points from last month’s forecast. For 2015, the panel sees inflation at 1.7%.


Author: Teresa Kersting, Economist

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Croatia Inflation Chart


Croatia Inflation June 2014

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


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