Croatia: Inflation continues to moderate
August 16, 2012
In July, consumer prices dropped 1.0% over the previous month, which followed the 0.6% decline observed in June. In fact, the July print marked the steepest monthly fall on record. According to the Croatian Bureau of Statistics (CBS), the decrease mainly reflected lower prices for clothing and footwear as well as for transport. As a result of the monthly drop, annual headline inflation moderated from 3.8% in June to 3.4% in July. The core consumer price index, which smoothes out more volatile categories such as fresh food and energy, fell 1.1% over the previous month, which was below the 0.1% drop seen in June. Owing to the monthly decline, annual core inflation edged down from 1.3% in June to 0.7% in July.