Inflation in May slipped to 3.3 percent

The inflation rate in Croatia, measured by consumer prices, slipped to 3.3 percent in May, down from 3.7 percent a month earlier, confirmed the second estimate by the Croatian Bureau of Statistics (DZS), published on Monday.

Prices of goods and services for personal consumption, measured by the consumer price index, increased in May compared to the same month last year, on average by 3.3 percent, while compared to April, they were on average higher by 0.1 percent. Thus, the second estimate confirmed the data from the first, which DZS published at the end of May.

After several months of gradual decline, inflation stagnated at 4.1 percent year-on-year in March this year. However, since April, when it fell to 3.7 percent, inflation has again been on a downward trajectory.

In May, it slipped to the lowest level since September 2021, when it also amounted to 3.3 percent.

Looking at the main groups of the ECOICOP classification, in May, the highest annual price increases were recorded in restaurants and hotels, by 10.7 percent, followed by transportation prices with a growth of 5.9 percent.

Prices of alcoholic beverages and tobacco, as well as in education, increased by 5.4 percent, while prices in the health sector rose by 5.3 percent.

Prices for recreation and culture strengthened year-on-year by 3.8 percent, communications by 3.2 percent, food and non-alcoholic beverages by 2.8 percent, and household goods, household equipment, and regular household maintenance by 2.4 percent.

On a monthly basis, in May, the highest price increases were in restaurants and hotels, by 1.1 percent, while prices for household goods, household equipment, and regular household maintenance strengthened by 0.5 percent, clothing and footwear by 0.3 percent, and food, non-alcoholic and alcoholic beverages, as well as tobacco by 0.2 percent.

On the other hand, transportation prices fell on a monthly basis by 0.7 percent, and housing, water, electricity, gas, and other fuels by 0.4 percent.

Inflation according to HICP slipped to 4.3 percent

According to the harmonized index of consumer prices (HICP), recently published by Eurostat, the estimated annual inflation rate in Croatia in May slipped to 4.3 percent, down from 4.7 percent a month earlier.

This is the second highest inflation rate in the eurozone after Belgium, where it was 4.9 percent.

The average annual inflation rate in the eurozone in May rose to 2.6 percent, up from 2.4 percent a month earlier.