The inflation rate in Croatia, as measured by the Consumer Price Index, stood at 2.2% on an annualised basis in October 2024, ending a five-month slowdown in annualised inflation.

Compared to September 2024, prices rose by 1.1%, the Croatian Bureau of Statistics (DZS) announced in its flash estimate on Thursday.

The October inflation rate of 2.2% ends a month-long decline in the year-on-year inflation rate, which stood at 3.3% in May 2024, 2.4% in June, 2.2% in July, 1.8% in August and 1.6% in September.

Broken down by the main components of the index, the estimated year-on-year inflation rate was 5.1% for services, 4.6% for food, beverages and tobacco and 0.6% for industrial non-food excluding energy, while the rate for energy fell by 4.6%.

Eurostat: Croatia’s inflation at 3.5% in October

Compared to September 2024, prices for industrial non-food products (excluding energy) rose by 2.7%, prices for energy by 1.4% and prices for food, beverages and tobacco by 1%. At the same time, prices for services fell by 0.5%.

The DZS said it would publish the final data on 15 November.

According to the flash estimate published by Eurostat, the annual inflation rate in Croatia in October 2024, as measured by the Harmonised Index of Consumer Prices (HICP), was 3.5%.

In the eurozone, the average annual inflation rate in October 2024 was 2%.

Higher inflation rates than in Croatia were recorded in Belgium (4.7%) and Estonia (4.5%). Slovakia had the same inflation rate as Croatia, while other eurozone member countries had inflation rates that were lower than Croatia’s.