Inflation in Croatia Accelerated to 3.5 Percent in May

Inflation measured by consumer prices in Croatia accelerated to 3.5 percent in May this year, up from 3.2 percent in April, according to data released by the Croatian Bureau of Statistics on Tuesday. According to Eurostat data, Croatia remains among the top countries in the eurozone for price growth compared to other member states.

Prices of goods and services for personal consumption measured by the consumer price index, according to the first estimate from the Croatian Bureau of Statistics (DZS), were on average 3.5 percent higher in May compared to May 2024, while they were on average 0.4 percent higher compared to April this year.

This marks the end of the trend of decreasing year-on-year inflation rates, which stood at four percent in January, 3.7 percent in February, and 3.2 percent in March and April.

When observed by the main components of the index, the estimated year-on-year inflation rate in May for services is 6.2 percent, for food, beverages, and tobacco 5.1 percent, for energy 1.7 percent, and for industrial non-food products excluding energy 0.1 percent.

The increase in the monthly change rate is estimated at 0.6 percent for services and 1.2 percent for food, beverages, and tobacco, while a decrease in the inflation rate of 1.1 percent was recorded for energy. At the same time, prices of industrial non-food products excluding energy remained unchanged on average.

In the Eurozone Among Countries with the Highest Inflation

Prices of goods and services for personal consumption, measured by the harmonized index of consumer prices (HIPC), which allows for the comparison of inflation rates among eurozone and EU member states, according to the first estimate, were on average 4.3 percent higher in May 2025 compared to May 2024, while they were on average 0.6 percent higher compared to April.

Thus, Croatia remains in the group of eurozone countries with the highest inflation. Only Estonia (4.6 percent) had a higher rate than Croatia in May, while Slovakia had the same annual inflation rate as Croatia. Other eurozone countries had lower inflation, according to data released by Eurostat on Tuesday.

Inflation in the Eurozone Slowed

Inflation in the eurozone slowed in May, slipping below two percent for the first time since last autumn, thanks to milder increases in food and service prices, estimates from the European statistical office showed on Tuesday.

The annual inflation rate in the eurozone measured by the harmonized index of consumer prices (HICP) was 1.9 percent in May, calculated by statisticians, meaning it fell below the two percent level targeted by the European Central Bank (ECB) for the first time since September last year. In April, prices had risen by 2.2 percent, as they did in the previous month.

Fresh food saw the highest price increase in May, rising by 4.4 percent, but less than in the previous month when prices had increased by 4.9 percent. The growth rate of service prices also eased, from 4.0 to 3.2 percent, according to Eurostat calculations.

Energy, on the other hand, decreased in price by 3.6 percent, as it did in April.

When excluding energy and fresh food, prices in the euro area in May were 2.4 percent higher than a year ago. Data for April indicated a base inflation rate of 2.7 percent.

Monthly comparisons, however, show price stagnation in May. In April, prices had risen by 0.6 percent, according to Eurostat calculations.

Energy prices decreased by 1.2 percent compared to April, statisticians determined. Service prices also slightly fell by 0.1 percent after rising by 1.3 percent in April. Fresh food prices increased by only 0.1 percent after rising by 0.9 percent in April.