Inflation in Croatia continued to climb in February

Inflation in Croatia continued to rise in February, with consumer prices up 3.8 percent compared to a year ago and 0.3 percent from January.

The sharpest increase was recorded in services, which rose nearly 8 percent year-on-year. Energy prices climbed 4.3 percent, while food, beverages, and tobacco were up 3.6 percent.

Within the eurozone, only Slovakia currently has a higher inflation rate than Croatia.

Finance Minister Tomislav Ćorić acknowledged the figures are concerning and warned that global developments could push prices even higher.

“If this turns into a prolonged conflict, there will be a rearrangement of distribution routes and production adjustments that will likely lead to higher energy prices and, in turn, higher prices of all goods — meaning higher inflation on a global level,” Ćorić said, referring to the conflict in the Middle East.