Croatian CPI continued its growth this year, reaching 4.8% YoY in November.

In November 2021, the prices of goods and services for personal consumption, which is measured by the consumer price indices (CPI), increase by 4.8% YoY on average. This marks the highest increase in CPI since February of 2013. We note that this is also in line with the Eurozone inflation, which reached 4.9% in November.

CPI for the eleven months of this year compared to the same period last year showed an increase in consumer prices of 2.3%. The growth was mostly driven by Food and non-alcoholic beverages prices, which as the largest component of the CPI at 27.2%, grew by 5.7% YoY. The growth was also driven by transport prices, which as the 3rd largest component of the CPI at 13.3%, grew by 12.9% YoY.

CPI (January 2013 – November 2021)

When looking at the main groups by the purpose of consumption, in November 2021, the highest relative increase was experienced by the transport segment, which noted a 12.9% increase YoY. Within this segment, the Operation of personal transport equipment increased by 17.6% YoY, while at the same time, Fuels and lubricants for personal transport equipment increased by 26.6% YoY. At the same time, Food and non-alcoholic beverages increased by 5.7%. Alcoholic beverages and tobacco experienced an increase of 5.6%, driven by higher tobacco prices (7.1% YoY).

Housing, water, electricity, gas, and other fuels had an increase of 3.5% YoY. Within this segment, liquid fuels had a significant increase of 74% YoY, while gas prices increase by 14.2% YoY. Clothing and footwear experienced a 2.2% increase YoY, mostly driven by footwear prices (+4.2% YoY). Looking over at MoM basis, most of the prices remained flat or increased less than 1%, with the only notable increase being the Food and non-alcoholic beverages which increased by 1.5% MoM.

CPI Sector Increase Breakdown – November 2021 (%)