Inflation slightly dropping, 3.8% y-o-y

Posted on July 29, 2012

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In June the consumer prices grew by 3.8% y/y, while falling by 0.6% on a monthly level

In June the consumer prices grew by 3.8% y/y, while falling by 0.6% on a monthly level. Prices which grew most on the monthly level were the prices of services, which was caused by the beginning of the tourism season. The prices of energy and public and municipal services have stagnated or declined: liquid fuels prices fell by 4.2% on a monthly level. Food prices are also lower by 0.6%. The biggest influence on the decline of consumer prices were lower prices of clothes (4.2%) and shoes (3.3%), which were the result of the beginning of the discount season. The prices of housing, energy and water strongly contributed to the inflation rate y/y. Ahead of the tourism season the prices of passenger boat tickets increased by 18.7%, as did some other services in tourism, which are usual seasonal influences, said Zdeslav Santic of Splitska banka. Although consumer prices on average grew by 2.4% in H1, RBA analysts expect that the average annual inflation rate will amount to about 3%.

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