Croatia's consumer price index increased by 5.7 percent in January 2022 year-on-year, the highest rate recorded since 2008, the state statistics bureau reported on Thursday.

This is the highest inflation rate on record in more than 13 years, since October 2008 when the inflation was 5.9 percent.

Inflation continued accelerating in the first month of 2022, after it was 3.3 percent in September, 3.8 percent in October, 4.8 percent in November, and 5.5 percent in December 2021. Year-on-year, all categories of prices went up, with transport prices jumping the most, by 10.8 percent in January. Prices of food and non-alcoholic beverages increased by 2.4 percentage points.

Considering the latest developments in Ukraine and the escalation of the armed conflict there, economic analysts told state agency Hina today that inflation projections were “subject to external risks.”