Croatia Inflation


Croatia: Drop in consumer prices moderates in July

August 14, 2014

In July, consumer prices fell 0.4% over the previous month, matching June’s result, which had 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 July, falling 0.1% over the same month last year, which was up from the 0.4% drop recorded in June and marked the lowest price drop in six months. The overall trend continued to decrease as annual average inflation fell to 0.1% (June: 0.3%), the lowest value on record.

Meanwhile, the core consumer price index, which smooths out more volatile categories such as fresh food and energy, fell 0.7% over the previous month, following June’s 0.2% drop. Core consumer prices rose 0.3% over the same month last year, coming in below June’s 0.6% price increase.

FocusEconomics Consensus Forecast panelists expect that inflation will end 2014 at 1.5%, which is down 0.1 percentage points from last month’s forecast. For 2015, the panel sees inflation at 1.5%.

Author: Teresa Kersting, Economist

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Croatia Inflation Chart

Croatia Inflation July 2014

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

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