Croatia: Record fall in annual consumer prices tallied in March
April 14, 2016
In March, consumer prices grew 0.7% over the previous month, which contrasted February’s 0.3% decrease and marked a one-year high. According to the Croatian Bureau of Statistics (CBS), the increase was mainly driven by double-digit growth in the prices of clothing and footwear—which followed three months of decreasing prices due to seasonal factors—and marginally by an increase in transport prices.
In annual terms, consumer prices fell 1.7% in March, which followed February’s 1.4%, thus marking the lowest reading on record. Annual average consumer prices decreased from February’s minus 0.5% to a 0.7% drop in March, which represented a multi-year low.
The core consumer price index, which does not include more volatile categories such as fresh food and energy, increased 1.4% month-on-month in March, which contrasted February’s 0.2% decrease. Core inflation grew from February’s flat reading to 0.6% growth in February.