Croatian industrial producer prices increased by 16.6% in November 2021 compared with the same month in 2020, the highest year-on-year jump since January 2011, according to data released by the state statistics bureau.

It was the ninth month in a row to see industrial producer prices rise on an annual level, reaching their new high after the record increase of 16.4% in October.

The annual rise in industrial producer prices began in March this year, when it reached 3.5%. It then picked up to 5.8% in April, 7.6% in May, 7.2% in June, 7.9% in July, 9.3% in August, and 12.1% in September.

Producer prices were 0.5% higher than in October.

The rise was mainly driven by energy prices.

Producer prices on the domestic market rose by 0.5% compared with October 2021 and by 19.8% compared with November 2020.

On the foreign market, they went up 0.4% and 12.6% on the month and on the year respectively.

Analysts of the RBA bank say in their comment that the price growth deceleration month on month is encouraging, as it can hint at the stabilization of the price trends.