Annual inflation rate in Croatia quickened to 1.4 percent in December 2019 from 0.7 percent in the previous month. This was the highest inflation rate since October 2018, driven by prices of food & non-alcoholic beverages (2.1 percent vs 0.4 percent in November); housing & utilities (2 percent vs 1.8 percent); transport (2.9 percent vs -0.9 percent) and miscellaneous goods & services (1.1 percent vs 0.9 percent). In contrast, cost fell mostly for recreation & culture (-0.7 percent vs -0.8 percent) and clothing & footwear (-1.8 percent vs 1.2 percent). On a monthly basis, consumer prices dropped 0.1 percent, the same pace as in the previous month. Inflation Rate in Croatia averaged 2.21 percent from 1999 until 2019, reaching an all time high of 8.43 percent in July of 2008 and a record low of -1.80 percent in May of 2016.
Inflation Rate in Croatia is expected to be 1.40 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Inflation Rate in Croatia to stand at 1.10 in 12 months time. In the long-term, the Croatia Inflation Rate is projected to trend around 2.00 percent in 2020, according to our econometric models.