The introduction of the euro did not have a significant impact on food prices

By: Trademagazin Date: 2023. 02. 01. 11:54

The first rapid report on inflation in January shows that the introduction of the euro did not have a significant impact on overall inflation in Croatia, the Croatian National Bank (HNB) announced on Wednesday.

“The movements in January suggest that the introduction of the euro may have a relatively mild effect on overall inflation, which is in line with the experience of other countries”

– can be read in the announcement of the HNB.

They added that, similar to the experience of other countries, the price increases occurred mostly in services. However, in order to make a final assessment of the price increases after the introduction of the euro, it is necessary to wait for the detailed data of January and the following months, they emphasized.

Based on the quick estimate published by the Croatian State Statistics Office on Wednesday, consumer prices were on average 12.7 percent higher in January than in the same period last year, and remained unchanged compared to December.

On a monthly basis – compared to last December – food, non-alcoholic beverages and tobacco products rose in price by 1.3 percent, and services by 1.1 percent. The price of non-food products produced without the use of energy decreased by 2.1 percent, and that of energy by 1 percent.