In February, consumer prices in Croatia increased 0.2% from the previous month, contrasting January’s 0.1% decline. According to the Croatian Bureau of Statistics (CBS), the monthly rise was mainly driven by higher prices for food and non-alcoholic beverages, restaurants and hotels and recreation and culture.
Inflation came in at 1.4% in February, above January’s 0.9% increase and marking the highest reading since August 2013. The annual average variation in consumer prices in February consequently edged up to minus 0.8% from January’s minus 1.0%.
The core consumer price index, which does not include more volatile categories such as fresh food and energy, was flat month-on-month in February, up from January’s 0.5% drop. Core consumer prices grew 0.2% on an annual basis, contrasting January’s 0.3% decline.
FocusEconomics Consensus Forecast panelists expect prices to fall 1.1% in 2017, which is unchanged from last month’s forecast. For 2018, the panel sees inflation of 1.0%.