Croatia Inflation Hits 4.9 Percent Driven by Energy Costs

Annual inflation in Croatia accelerated to 4.9 percent year-on-year in October, according to data released by the Croatian Bureau of Statistics on November 4. This upward trend began in August, following a period of slowing inflation between April and July.

Energy prices served as the primary driver of the increase, soaring 20.7 percent year-on-year. Other contributing factors included a 7.5 percent rise in service prices and a 0.2 percent increase in the cost of food, beverages, and tobacco.

Finance Minister Tomislav Coric stated that domestic inflationary pressures remain under control. He asserted that inflation would be below 2 percent without the recent surge in energy costs and expressed hope that a de-escalation of conflicts will lower energy prices, leading to a significant decline in inflation during the first quarter of 2027.