cijene, trgovina, padanje cijena.jpg
Photograph: Photo by Craig Murphy, used under CC BY

Croatia's consumer prices fell by a record 1.4% in February 2016 compared to February 2015, and this sharp decline was on the back of lower fuel prices, the national statistical office (DZS) stated on Thursday.

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

February's decline of consumer prices on the year was significantly higher than the month before, when prices slid by 0.8%.

A decline of 1.4% hasn't been been recorded since 2000, when the DZS started keeping those records.

"The decrease in consumer prices in February continues the trend of deflationary pressures, which started in February 2014," analysts at Raiffeisenbank Austria (RBA) said in their comment on the DZS report.

Fuel prices fell the most, by 4.4%, with prices of fuel sinking 7%. They were followed by prices of food and non-alcoholic beverages, housing, water, electricity and gas (-1.5%) , while prices of education slid by 0.9%.

Prices of recreation and culture were down 0.6%, and those of communications dropped by 0.4%.

Prices of furnishings and household equipment were down 0.3%, while health prices increased the most, by 1.8%. Increases were also recorded in prices of alcoholic drinks and tobacco (+1.2%), while prices of restaurants and hotels were up 0.6%.

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