Croatia: Drop in consumer prices moderates in May
June 16, 2014
In May, consumer prices rose 0.3% over the previous month, which matched April’s results. According to the Croatian Bureau of Statistics (CBS), the print reflects that higher prices for transport as well as for clothing and footwear more than offset a decline in prices for food and non-alcoholic beverages as well as for housing, water, electricity, gas and other fuels. In annual terms, consumer prices remained in the red in May, falling 0.2% over the same month last year, which was up from the 0.5% drop recorded in April and marked the slowest price drop in four months. The overall trend continued to decline as annual average inflation reached 0.5% (April: 0.7%), the lowest value on record.
Meanwhile, the core consumer price index, which smoothens out more volatile categories such as fresh food and energy, increased 0.2% over the previous month, which was down from the 0.7% increase tallied in April. Core consumer prices rose 0.5% over the same month last year, exceeding April’s 0.2% price increase.