Croatian Inflation Slows for 6th Consecutive Month

Lauren Simmonds

Updated on:

inflation in croatia

June the 1st, 2023 – Croatian inflation has slowed for the sixth consecutive month, but it isn’t all good news.

As Poslovni Dnevnik writes, if we’re measuring it by the consumer price index, the Croatian inflation slowed down to 7.9 percent on an annual basis in May of this year. The above was announced by the CBS on Thursday, and those figures represent a slowdown in inflation for the sixth month in a row and the lowest inflation rate since March last year.

The cbs sheds light on the inflation slowdown

The State Bureau of Statistics (CBS) published the first estimate of the consumer price index, according to which the inflation rate back in May 2021 stood at 7.9 percent when compared to May 2022, while compared to the previous month – it was 0.5 percent.

The annual Croatian inflation rate has, by these standards, decreased for the sixth time in a row, after reaching a record 13.5 percent in November last year. In December, growth slowed to 13.1 percent, in January inflation was 12.7 percent, in February it stood at 12 percent, in March it fell to 10.7 percent, and in April, it fell considerably once again down to 8.9 percent.

Observed according to the main components of the index, the estimated annual rate of change for the group that includes food, beverages and tobacco stands at 13.5 percent, for industrial non-food products without energy 8.5 percent, and for services eight percent. At the same time, according to the first estimate, energy prices fell by 3.1 percent.

On a monthly level, more specifically when compared to April this year, rate growth was estimated for the food, beverage and tobacco group, by 1.4 percent, as well as for industrial non-food products without energy and services, by 0.7 percent for each component . At the same time, according to the first assessment, the rate drop for energy was estimated by two percent.

The CBS announced that it is set to publish the final data on the consumer price index in May on June the 16th this year.


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