Croatia: Inflation falls to a 14-month low
February 21, 2012
In January consumer prices fell 0.4% over the previous month, which mirrored the reading tallied in December. According to the Statistics Office, the drop reflected lower prices for clothing and footwear, which were only partially offset by higher prices for food and non-alcoholic beverages as well as for transport. As a result of the monthly drop, annual headline inflation fell from December's 2.1% to 1.2% in January, which represents the lowest reading seen since November 2010. Moreover, annual core inflation, which smoothes out more volatile categories such as fresh food and energy, edged down to 0.2% (December: 1.0% year-on-year). As a result of the January reading, annual average inflation inched down to 2.2% from 2.1% in December.