Croatia: Inflation moderates in June
July 16, 2012
In June, consumer prices dropped 0.6% over the previous month, which contrasted the buoyant 1.7% rise observed in May. In fact, the June print marked the steepest monthly fall since December 2009. 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 fall, annual headline inflation moderated from 3.9% in May to 3.8% in June. The core consumer price index, which smoothes out more volatile categories such as fresh food and energy, fell 0.1% over the previous month, which contrasted the 0.5% increase seen in May. Despite the monthly decline, annual core inflation inched up from 1.2% in May to 1.3% in June.