Croatia Inflation


Croatia: Drop in consumer prices increases in August

September 16, 2014

In August, consumer prices fell 0.1% over the previous month, coming in above July’s 0.4% drop. According to the Croatian Bureau of Statistics (CBS), the print mainly reflected that lower prices for clothing and footwear, transport as well as alcoholic beverages and tobacco more than offset increases in the prices for recreation and culture as well as communication.

In annual terms, consumer prices declined even more in August, falling 0.3% over the same month last year, which was down from the 0.1% drop recorded in July. The overall trend continued to decrease as annual average inflation fell to a flat reading (July: 0.1%), the lowest value on record.

Meanwhile, the core consumer price index, which does not include more volatile categories such as fresh food and energy, fell 0.1% over the previous month, following July’s 0.7% drop. Core consumer prices rose 0.6% over the same month last year, coming in above July’s 0.3% price increase.

FocusEconomics Consensus Forecast panelists expect that inflation will end 2014 at 1.2%, which is down 0.3 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 August 2014

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

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