July Inflation Rate up to 1.1%

Total Croatia News

ZAGREB, August 16, 2019 – Consumer prices in Croatia in July this year were 1.1% higher than in July 2018, and inflation this July was higher than in June, when it stood at 0.6%, the national statistical office (DZS) said on Friday.

The 1.1% year-on-year increase in consumer prices is the highest since November 2018, when inflation stood at 1.3%.

Prices of alcoholic drinks and tobacco saw the highest year-on-year increase in July, of 5%, followed by prices of housing, water, electricity, gas and other energy products, which rose by 3.9%.

On the other hand, prices in the health segment and prices of transport both dropped by 1.1% on the year, with prices of petrol going down 1.9%.

Month-on-month, consumer prices in July dropped by 0.5% on average, with prices of clothing and footwear dropping the most, by 11.8%, owing to seasonal discounts.

On the other hand, restaurant and hotel prices grew the most on the month, by 1.6%, followed by prices of recreation and culture, which rose by 1.2%.

In the first seven months of this year, consumer prices were 0.7% higher than in the same period last year.

“In general, the level of prices in Croatia is at 68% of the EU28 average. Prices of food and non-alcoholic drinks account for 97% of the EU average, while prices of electricity, gas and petrol account for only 65% of the EU average,” analysts of Raiffeisenbank Austria have said.

The analysts expect that the inflation rate in this and coming years should be moderate and stay below 2%.

More economic news can be found in the Business section.


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