Croatia: Inflation rebounds in June from an over one-year low
July 16, 2013
In June, consumer prices fell 0.2% over the previous month, which was down from the flat reading recorded in May. According to the Croatian Bureau of Statistics (CBS), the result mainly reflects lower prices for food and non-alcoholic beverages as well as for clothing and footwear. Despite the monthly decline, in June, annual headline inflation rose to 2.0% from 1.6% in May, which had marked the lowest level since February last year.
Meanwhile, the core consumer price index, which smoothes out more volatile categories such as fresh food and energy, fell 0.3% over the previous month, following the 0.1% drop seen in May. As a result, annual core inflation dropped further from 0.6% in May to 0.4% in June, which represents a 16-month low.
FocusEconomics Consensus Forecast panellists anticipate inflation will end 2013 at 2.4%, which is down 0.3 percentage points from last month's forecast. For 2014, the panel sees inflation at 2.4%.