Consumer prices in Croatia in May 2023 were 7.9% higher than in May 2022, which means that year-on-year the inflation rate has dropped for the sixth consecutive month, shows a report from the state statistics bureau (DZS).

Prices of goods and services for personal consumption, measured by the Consumer Price Index (CPI), in May 2023 were 7.9% higher than in May 2022, while month-on-month, they grew 0.5%, shows the DZS report released on Friday.

These figures match the DZS’s preliminary report released in early June.

In April 2023 inflation stood at 8.9% and in November 2022 it reached a record high 13.5%.

The 7.9% inflation rate in May is the lowest inflation rate since March 2022, when it stood at 7.3%.

In terms of the main index components, prices of food, non-alcoholic drinks and restaurant and hotel services went up the most year-on-year, by 15.1%.

Prices of furnishings, household equipment and routine household maintenance grew by 10.4%, while prices of housing, water, electricity, gas and other fuels rose by 7.5%.

Prices of clothing and footwear went up by 7.3%, prices of recreation and culture by 7.2% while prices of health rose by 6.7% and prices of alcoholic drinks and tobacco by 5.8%.

On the other hand, prices of transport dropped by 4.8%.

Month-on-month, prices of food and non-alcoholic drinks grew the most, by 1.6%.

Prices of transport dropped the most, by 1%, while prices of housing, water, electricity, gas and other fuels, as well as communications services, dropped by 0.5%.

According to the Harmonised Consumer Prices Index, prices of goods and services for personal consumption in May grew 8.3% on the year and 0.6% on the month.