Croatia's industrial producer prices increased by 12.7 percent in February compared with the same month in 2022, continuing their annual rise for 24 straight months, according to the state statistics bureau (DZS).

Industrial producer prices have been steadily on the rise since March 2021, when they rose at an annual rate of 3.5%. Their growth rate intensified in the following months to reach 19.5% in March 2022, 21.9% in April, 23.7% in May and 24% in June 2022, the record growth rate since 2011 when DZS started tracking the data.

The growth rate then slowed down slightly to 23.6% in July, 22.6% in August, 22.1% in September 17.9% in October 2022, 17.9% in November, 14.9% in December and 14 in January.

In February 2023, industrial producer prices were up 0.4% from the previous month.

The increase in prices was mainly fuelled by energy prices. In February 2023, prices in total industry excluding energy increased by 0.1% from January and by 8.2% from February 2022.

On the external market, industrial producer prices were up by 0.1% compared with January and by 6.6% compared with Feruary 2022

On the domestic market, prices were 0.7% higher than in January and 17.8% higher than in February 2022.