Annual inflation rate in November 4.7 percent

The annual inflation rate in Croatia continued to slow down, standing at 4.7 percent in November this year compared to November last year, while the annual average inflation rate remained at 6.3 percent.

According to data from the Croatian Bureau of Statistics, the prices of goods and services used for personal consumption, measured by the consumer price index, were on average 0.1 percent lower in November compared to October. Compared to November last year, i.e., on an annual basis, consumer prices are higher by 4.7 percent, which is the lowest annual growth rate this year. Thus, in November, a further slowdown in the annual inflation rate was recorded – after a record high annual level of 8.4 percent in July, the rate fell to 7.4 percent in August, to 6.4 percent in September, to 5.9 percent in October, and in November, for the first time this year, the annual inflation rate fell below 5 percent, to 4.7 percent.

In the annual average, i.e., in the last twelve months compared to the previous twelve months, the inflation rate is 6.3 percent, and this growth rate was also recorded in October. According to statistical data, on a monthly basis, in November compared to October, the largest contribution to the reduction of the consumer price index came from transportation prices, which fell by 4 percent due to lower fuel prices, and the prices of food and non-alcoholic beverages, which are lower by 0.4 percent.

In contrast, an increase in November compared to October was recorded in the prices of clothing and footwear, by 3.2 percent, housing, water, energy, gas, and other fuels, by 0.8 percent, etc. Housing prices on an annual basis, in November this year compared to November last year, increased by 8.6 percent, healthcare by 7.6 percent, prices of food and non-alcoholic beverages are higher by 6.9 percent, hospitality services by 6.8 percent, prices of furniture, household equipment, and regular maintenance by 5 percent, education by 2.9 percent, etc. In contrast, fuel and lubricant prices are lower by 7 percent on an annual basis, which also affected the decline in transportation prices by 2.4 percent, and in November this year compared to November last year, communication prices are also lower by 1.7 percent. (H)