Croatian Inflation Slowdown, Price of Consumer Goods Up

Katarina Anđelković

croatian inflation

November 27, 2023 – What is the current state of Croatian inflation, and what is happening with the prices of goods? Apparently, those are still rising, but consumption has also picked up slightly.

As Večernji List/Poslovni writes, Croatian inflation is finally slowing down, but the prices of consumer goods have increased by 16 percent since the beginning of 2023.

Finally, there are visible signs of a slowdown in inflation. Despite the double-digit growth in prices, consumption is growing slightly, which gives reason for optimism – both when it comes to the resilience of Croatian retail and, more importantly, the purchasing power of citizens, it is claimed in an analysis made for the magazine Ja Trgovac by the agency NielsenIQ.

Ivan Junaković, head of business development for Central and Eastern Europe, says that in nine months of this year, Croatian citizens paid on average 16 percent more for consumer goods than in the same period last year (price growth was significantly higher at the end of last year and at the beginning of this year).

The overall financial result of Croatian retail is plus 17.5 percent, while consumption, that is, volume sales, is 1.5 percent higher than in the same period last year.

When it comes to specific products, it looks like the price of frozen vegetables increased the most, by about 40 percent, followed by eggs with 38 percent. Sugar is 33 percent more expensive, ice cream 30 percent, chips 29 percent, dishwasher detergent 28 percent, fabric softeners 27 percent, and biscuits 26 percent…, the data are estimates of the retail market (with discounters and drugstores, but excluding pharmacies and specialized stores, as well as hospitality) for about 150 categories in the period for food and non-food items.

Some significant (high-volume) categories such as cigarettes and fresh fruits and vegetables were not included.


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