Consumer prices declined 0.5% from the previous month in July, following the 0.3% dip recorded in June. According to the Croatian Bureau of Statistics (CBS), July’s pullback largely reflected a sharp fall in prices for clothing and footwear.
Meanwhile, inflation jumped from 0.6% in June to 1.1% in July, an eight-month high. Despite the increase, annual average inflation ticked down to 1.0% from the previous month’s 1.1%.
FocusEconomics Consensus Forecast panelists expect inflation to average 0.9% in 2019, which is down 0.1 percentage points from last month’s forecast. In 2020, the panel expects inflation to average 1.5%.