Croatia's inflation decreases for third consecutive month

The prices of consumer goods and services, measured by the consumer price index, increased by 0.2% in February 2023 compared with the previous month and by 12% compared with February 2022.

The DZS revised up its initial estimate released at the start of this month, when it projected the annual inflation rate for February at 11.9%.

Despite that, the annual inflation rate decreased for the third month running after reaching a record high of 13.5% in November 2022.

Annual increases were observed in all categories. The highest increases were recorded in the prices of restaurant and hotel services (+18.5%), food and non-alcoholic beverages (+17.1%), and housing, water, electricity, gas and other fuels (+15.5%), while the the lowest increases were observed in the prices of communications (+1.7%) and education (+2.4%)

Compared with January 2023, transport prices increased the most, by 0.8%), followed by the prices of clothing and footwear (+0.6%), restaurant and hotel services (+0.4%), housing, water, electricity, gas and other fuels (+.02%), food and non-alcoholic beverages (+0.2%), and recreation and culture (+0.2%).

Monthly decreases were recorded in the prices of miscellaneous goods and services (-0.5%), furnishings,  household equipment and routine household maintenance (-0.2%), and alcoholic drinks and tobacco (-01.%).

The DZS also released data on inflation measured by the Harmonised Index of Consumer Prices, which is a comparable measure of inflation among EU member states.

The data shows that in February 2023 the prices of consumer goods and services in Croatia increased by 0.3% on average compared with January 2023 and by 11.7% compared with February 2022.