Croatia: Drop in consumer prices recedes slightly
April 16, 2014
In March, consumer prices rose 0.47% over the previous month, which contrasted the 0.28% drop recorded in February. According to the Croatian Bureau of Statistics (CBS), the print reflects higher prices for clothing and footwear. In annual terms, consumer prices remained in the red in March, falling 0.4% over the same month last year and following the 0.6% drop recorded in February. The overall trend continued to decline as annual average inflation reached 1.0%, the lowest value on record.
Meanwhile, the core consumer price index, which smoothens out more volatile categories such as fresh food and energy, increased 1.1% over the previous month, marking the highest core inflation rate since October 2012. The print followed the 0.4% drop tallied in February. Core consumer prices rose 0.2% over the same month last year, which contrasted the 0.2% drop tallied in February.
FocusEconomics Consensus Forecast panelists expect that inflation will end 2014 at 2.1%, which is unchanged from last month's forecast. For 2015, the panel sees inflation at 2.2%.
Author: Armando Ciccarelli, Head of Data Solutions