Inflation Hits Unexpected High In Croatia

Inflation reached its highest levels in Croatia in the past four years when the Central Bureau of Statistics (CBS) released September data today. Inflation reached 5.0 in September, more that experts expected.

According to CBS data, in September, the prices of goods and services for personal consumption, measured by the consumer price index, on average, were higher than in August by 1.4 percent, jumping 5.0 percent from September 2011.

Inflation of 5.0 percent has not been recorded since October 2008 when it stood at 5.9 percent. The rate of 5.0 percent has come as a surprise to experts. Economists predicted that inflation would reach from between 4.0 – 4.3 percent in September, reported Jutarnji list.

The highest growth in prices came with the prices of clothes and shoes, which grew by 11.2 percent, with food and drink growing by 1.1 percent.

On an annual basis, the prices of housing, water, electricity, gas and other fuels increased the most at 13.5 percent, followed by prices of food and non-alcoholic beverages, which rose 5.5 percent from 2011.