Croatia Inflation


Croatia: Consumer prices in December record steepest drop in eight months

January 15, 2015

In December, consumer prices fell 0.8% over the previous month, coming in further below November’s 0.3% decrease and marking the lowest reading in 29 months. According to the Croatian Bureau of Statistics (CBS), the print mainly reflected lower prices for clothing and footwear, transports as well as furnishings and household maintenance.

In annual terms, consumer prices declined 0.5%, contrasting November’s 0.2% increase. The figure marked the steepest decrease in eight months. The overall trend deteriorated as annual average consumer prices inched down from November’s 0.1% to a 0.2% decline in December.

Meanwhile, the core consumer price index, which does not include more volatile categories such as fresh food and energy, fell 0.9% over the previous month, contrasting November’s 0.1% rise. Core inflation rose 0.7% over the same month last year, matching November’s result.

FocusEconomics Consensus Forecast panelists expect that inflation will end 2015 at 1.2%, which is down 0.2 percentage points from last month’s forecast. For 2016, the panel sees inflation at 1.8%.

Author: Teresa Kersting, Economist

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Croatia Inflation Chart

Croatia Inflation December 2014

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

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