Croatia: Inflation drops to lowest level in more than one year
June 14, 2013
In May, consumer prices were unchanged over the previous month, which was down from the 0.4% rise observed in April. According to the Croatian Bureau of Statistics (CBS), higher prices for clothing and footwear as well as for alcoholic beverages and tobacco offset lower prices for communication as well as for transport. As a consequence of the flat reading, annual headline inflation fell from 3.3% in April to 1.6% in May, 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 0.1% over the previous month, contrasting the 0.7% rise seen in April. As a result, annual core inflation dropped from 1.2% in April to 0.6% in May.
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