Latest reading: Consumer prices increased 3.7% on a year-on-year basis in December, following a 3.5% increase in the prior month...
Inflation in Croatia
Harmonized consumer price inflation averaged 2.6% in the ten years to 2024. The 2024 average figure was 4.0%. For more inflation information, visit our dedicated page.
Croatia Inflation Chart
Note: This chart displays Inflation (HICP, ann. var. %, aop) for Croatia from 2014 to 2025.
Source: Macrobond.
Croatia Inflation Data
| 2020 | 2021 | 2022 | 2023 | 2024 | |
|---|---|---|---|---|---|
| Inflation (HICP, ann. var. %, aop) | 0.0 | 2.7 | 10.7 | 8.4 | 4.0 |
| Inflation (CPI, ann. var. %, eop) | -0.7 | 5.5 | 13.1 | 4.5 | 3.5 |
| Inflation (CPI, ann. var. %, aop) | 0.2 | 2.6 | 10.8 | 7.9 | 3.0 |
| Inflation (HICP, ann. var. %, eop) | -0.3 | 5.2 | 12.7 | 5.4 | 4.5 |
| Inflation (PPI, ann. var. %, aop) | -2.0 | 9.6 | 26.4 | 5.9 | -3.7 |
Inflation ebbs in December from prior month
Latest reading: Harmonized consumer prices rose 3.8% in annual terms in December, following a 4.3% increase in the prior month. December's reading was the weakest since October 2024. The figure remains higher than the euro area and above the ECB’s 2.0% target. Over 2025 as a whole, harmonized inflation averaged 4.4% (2024: 4.0%), marking the second-highest rate in the euro area. Relative to the previous month's data, in December there were reduced price pressures for food and non-alcoholic beverages (+2.9% in annual terms vs +4.1% in November), transportation (-1.5% vs +0.1% in November), housing and utilities (+9.1% vs +9.7% in November) and recreation (+3.2% vs +3.8% in November). In contrast, price pressures were higher for restaurants and hotels in December (+9.5% vs +8.7% in November). Meanwhile, consumer prices were up 3.2% in December, following a 3.8% increase in the prior month. Lastly, harmonized consumer prices fell 0.34% in December on a month-on-month basis, following a 0.27% rise in the prior month.
Outlook: Our panelists see harmonized inflation moderating gradually from Q4 through end-2026. Average harmonized inflation is expected to decrease to a five-year low this year but remain above the ECB’s 2.0% target and the euro area average. The Consensus indicates that it will continue to decline in 2027.
Consensus Forecasts and Projections for the next ten years
How should you choose a forecaster if some are too optimistic while others are too pessimistic? FocusEconomics collects Croatian inflation projections for the next ten years from a panel of 14 analysts at the leading national, regional and global forecast institutions. These projections are then validated by our in-house team of economists and data analysts and averaged to provide one Consensus Forecast you can rely on for each indicator. By averaging all forecasts, upside and downside forecasting errors tend to cancel each other out, leading to the most reliable inflation forecast available for Croatian inflation.
Download one of our sample reports to visualize what a Consensus Forecast is and see our Croatian inflation projections.
Want to get access to the full dataset of Croatian inflation forecasts? Send an email to info@focus-economics.com.
Latest Global Inflation News
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Japan: Inflation eases to lowest since March 2022 in December Latest reading: Consumer prices were up 2.1% on a year-on-year basis in December, following a 2.9% rise in the prior... -
Croatia: Inflation ebbs in December from prior month Latest reading: Harmonized consumer prices rose 3.8% in annual terms in December, following a 4.3% increase in the prior month.... -
Hong Kong: Inflation rises in December from the prior month Latest reading: Consumer prices were up 1.5% on a year-on-year basis in December, following a 1.2% rise in the previous... -
Canada: Inflation rises in December from November Latest reading: Consumer prices were up 2.4% in annual terms in December, following a 2.2% increase in the previous month.... -
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