DZS: Inflation in February Remained at 4.1 Percent, Eurostat: Croatia’s Inflation at 4.8 Percent is the Highest in the Eurozone

The inflation rate in Croatia measured by the consumer price index in February was 4.1 percent year-on-year, announced on Friday by the Croatian Bureau of Statistics (DZS), which is the same as in January, thus breaking a multi-month trend of slowing inflation on a yearly basis.

DZS published the first estimate of the consumer price index, according to which in February 2024, the inflation rate was 4.1 percent compared to February 2023, while compared to the previous month, that is, January of this year, it increased by 0.2 percent.

Thus, the multi-month trend of slowing inflation on a yearly basis was interrupted, given that in January 2024, the inflation rate on a yearly basis also amounted to 4.1 percent.

Observed by the main components of the index, the estimated annual inflation rate for the group including food, beverages, and tobacco was 5.5 percent, for services 6.4 percent, industrial non-food products excluding energy 2.5 percent, and energy 0.4 percent, as stated in the DZS announcement.

On a monthly basis, compared to January 2024, in the energy component, prices increased by 1.5 percent, and for services by 0.5 percent. At the same time, according to the first estimate, prices of food, beverages, and tobacco fell by 0.4 percent, and industrial non-food products excluding energy by 0.2 percent.

DZS announced that it will publish the final data on the consumer price index in February according to the ECOICOP classification (European Classification of Individual Consumption according to Purpose) on March 15.

Inflation in Croatia in February is the highest in the Eurozone

According to Eurostat data, Croatia recorded the strongest annual increase in consumer prices in February, measured by HICP, of 4.8 percent, at the same rate as in January.

On a monthly basis, prices measured by HICP increased in Croatia in February by 0.3 percent. In January, they recorded the same percentage decrease.

The consumer price index of the Croatian Bureau of Statistics shows that prices in Croatia in February increased by 4.1 percent compared to the same month last year. On a monthly basis, they increased by 0.2 percent according to DZS.

The group of Eurozone countries with the most pronounced increase in consumer prices in February on a yearly basis, measured by HICP, includes Estonia and Austria, with inflation rates of 4.4 and 4.2 percent, respectively.

The mildest increases in February on a yearly basis were recorded in Latvia and Italy, at 0.7 and 0.9 percent, respectively.