Croatia: Inflation rises again in July
August 14, 2013
In July, consumer prices dropped 0.6% over the previous month, following the 0.2% decrease recorded in June. According to the Croatian Bureau of Statistics (CBS), the result mainly reflects lower prices for clothing and footwear as a part of seasonal discounts. Despite the monthly decline, annual headline inflation rose to 2.3% in July, up from 2.0% in June.
Meanwhile, the core consumer price index, which smoothes out more volatile categories such as fresh food and energy, fell 0.4% over the previous month, following the 0.3% drop seen in June. Annual core inflation, however, increased from 0.4% in June to 1.2% in July.
FocusEconomics Consensus Forecast panellists anticipate inflation will end 2013 at 2.3%, which is down 0.1 percentage points from last month's forecast. For 2014, the panel sees inflation at 2.4%.
Author: Carl Kelly, Economist