Macroeconomic Forecast Croatia

Consumer Price inflation continued to accelerate in October, coming in at 2.7% year-on-year (y-o-y), up from 2.1% annualised growth in the consumer price index in September. This marks the second consecutive month of sustained inflationary pressure. Prices in the 'Food and Non-Alcoholic' sub-component of the index rose by 4.0% y-o-y, while 'Alcohol' prices increased by 9.0% y-o-y up from 7.8% in September. Meanwhile, price growth in the 'Transport' sub-component of the consumer price basket eased to 5.5% y-o-y from 7.7% the previous month. We have concomitantly raised our end-year forecast for CPI to 2.5% from 2.3% previously.

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