Croatia: Inflation slows in March to lowest level in eight months
April 16, 2013
In March, consumer prices rose 0.3% over the previous month, mirroring the result observed in February. According to the Croatian Bureau of Statistics (CBS), the increase mainly reflects higher prices for clothing and footwear as well as for transport. Despite the monthly rise, annual headline inflation fell from 4.9% in February to 3.7% in March, the lowest level since July last year.
Meanwhile, the core consumer price index, which smoothes out more volatile categories such as fresh food and energy, rose 0.7% over the previous month, well above the 0.1% increase seen in February. Despite the higher monthly increase, annual core inflation fell from 2.4% in February to 1.3% in March.
FocusEconomics Consensus Forecast panellists anticipate inflation will end 2013 at 2.6%, which is unchanged from last month's forecast. For 2014, the panel sees inflation at 2.5%.
Author: Armando Ciccarelli, Head of Data Solutions