Croatia: Inflation inches up in February
March 14, 2012
In February, consumer prices rose 0.6% over the previous month, which contrasted the 0.4% drop tallied in January. According to the Statistics Office, the increase reflected higher prices for transport as well as for food and non-alcoholic beverages, which were only partially offset by lower prices for clothing. As a result of the monthly rise, annual headline inflation inched up from January's 1.2% to 1.3% in February. Moreover, despite the higher February reading, annual average inflation inched down to 2.1% from 2.2% in January. The core consumer price index, which smoothes out more volatile categories such as fresh food and energy, fell 0.2% over the previous month, which followed the 1.3% decline seen in January. As a result, annual core inflation recorded a negative rate for the first time since records began, falling from plus 0.2% in January to minus 0.2% in February.