Croatia's consumer prices down, deflationary pressures continue

Croatia's consumer prices fell by 0.9% in October compared to October 2014, and this sharpest decline since January was on the back of lower fuel prices, the national statistical office (DZS) stated on Monday.

The statistics indicate continued deflationary pressures, as evidenced by a two-year stagnation or fall in consumer prices.

The latest fall of 0.9% ensued after September saw an annual decrease of 0.8%.

However, this October saw a price rise of 0.1% compared to September.

The European Union's statistical office (Eurostat) on Monday released data indicating that Croatia was among EU countries with a negative inflation rate in October year-on-year.

Croatia's consumer prices measured by the Harmonised Index of Consumer Prices fell by 0.5% this October compared to October 2014.

"In October 2015, negative annual rates were observed in thirteen Member States. The lowest annual rates were registered in Cyprus (-1.8%), Romania (-1.4%), Bulgaria (-1.2%), Slovenia (-1.1%) and Spain (-0.9%). The highest annual rates were recorded in Malta (1.6%), Belgium (1.2%), Sweden (0.9%), Austria and Portugal (both 0.7%). Compared with September 2015, annual inflation fell in four Member States, remained stable in seven and rose in sixteen," Eurostat reported.

"Euro area annual inflation was 0.1% in October 2015, up from -0.1% in September. In October 2014 the rate was 0.4%. European Union annual inflation was 0.0% in October 2015, up from -0.1% in September. A year earlier the rate was 0.5%."

Last update: Mon, 16/11/2015 - 14:06
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