Croatia: Inflation picks up in December
January 15, 2013
In December, consumer prices fell 0.2% over the previous month, mirroring the result observed in November and marking a second consecutive drop. According to the Croatian Bureau of Statistics (CBS), the decrease mainly reflected lower prices for clothing and footwear as well as for communication. Despite the monthly drop, annual headline inflation picked up from 4.4% in November to 4.7% in December, which more than doubled the 2.1% rate recorded in December 2011.
Meanwhile, the core consumer price index, which smoothes out more volatile categories such as fresh food and energy, dropped 1.0% over the previous month, which contrasted the 0.1% rise seen in November. As a result, annual core inflation slowed from 1.5% in November to 1.2% in December.
Author: Armando Ciccarelli, Head of Data Solutions