Croatia: Inflation softens in May
June 16, 2017
May saw consumer prices fall 0.2% from the previous month, contrasting April’s 0.4% increase. According to the Croatian Bureau of Statistics (CBS), the monthly rise was mainly driven by lower prices for clothing and footwear, and transport. The drop was partially offset by a rise in the price of furnishings, household equipment and routine household maintenance.
Inflation came in at 1.1% in May, down from April’s 1.4% increase. The annual average variation in consumer prices in May was flat, up from minus 0.3% - the highest since July 2014.
The core consumer price index, which omits more volatile categories such as fresh food and energy, swung from a 0.7% rise in April to a 0.1% drop in May. Core consumer inflation in May came in at 1.6%, marginally down from April’s 1.7%.
Author: Nihad Ahmed, Economist