Croatia: Inflation comes in at highest level since our records began

Inflation came in at 13.3% in October, up from September’s 12.8%. October's result was the highest inflation rate since our current records began. Looking at the details of the release, prices for food increased at a quicker pace in October and prices for transportation rebounded. Meanwhile, housing and utilities prices were largely stable. In contrast, prices for clothing and footwear grew at a more subdued pace.

The trend pointed up, with annual average inflation coming in at 9.4% in October (September: 8.6%). Meanwhile, harmonized inflation ticked up to 12.7% in October, from September’s 12.6%.

Finally, consumer prices rose 1.34% from the previous month in October, moderating from the 1.44% increase seen in September.

FocusEconomics Consensus Forecast panelists expect inflation to average 6.3% in 2023, which is up 0.3 percentage points from last month’s forecast. In 2024, the panel sees inflation averaging 2.7%.