Croatia’s consumer prices rise by 2.1% y/y in July

Croatia’s consumer prices rise by 2.1% y/y in July
Croatia consumer prices rose 2.1% y/y in July, slowing from 2.4% in June / bne IntelliNews
By bne IntelliNews August 17, 2018

Croatia's consumer prices rose 2.1% y/y in July, slowing from the 2.4% annual rise in the previous month, data from the statistics office showed on August 17.

The European Commission has forecast an inflation rate of 1.6% for this year and 1.8% in 2019. The low inflation and rising disposable income of the population should push up private consumption, the main driver of growth this year. The Croatian central bank expects inflation to reach 1.7% in 2018.

On a monthly basis, Croatia’s consumer prices fell 0.9% in July, after they remained unchanged in June.

The highest monthly decrease in the consumer price indices in July was recorded in the prices of clothing and footwear (-14%), followed by the prices of food and non-alcoholic beverages (-0.5%), the prices of transport (-0.4%), the prices of education (0.3%), the prices of communication (-0.2%) and the prices of furnishings and household equipment (-0.1%).

At the same time, prices of restaurants and hotels went up 1.6% on the month, while prices of recreation and culture advanced 0.4% compared to June. The prices of miscellaneous goods and services increased 0.3% m/m on average, while a 0.2% rise was reported in the prices of alcoholic beverages and tobacco.

In the first seven months of the year, Croatia's consumer prices rose 1.5% in annual terms.

Data

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