Inflation in Croatia in October among the highest in the EU

(Patria) - Preliminary Eurostat data show that inflation in Croatia, measured by the harmonised index of consumer prices, rose to 3.5 percent in October, up from 3.1 percent in September.

On an annual basis, October inflation in Croatia is among the highest in the EU, together with Belgium (4.7 percent) and Estonia (4.5 percent).

The main driver of this increase was food price inflation, which rose from 3.9 percent in September to 5.2 percent in October.

The positive news is that services price inflation slowed, from 8.2 percent in September to 7.5 percent in October. However, the rate remains high, still contributing significantly to overall inflation.

Annual inflation in the euro area is estimated to have reached 2 percent in October, representing an increase from 1.7 percent in September, according to a new estimate from Eurostat, the EU's statistical office.

Among the main components of inflation in the euro area, the services sector is expected to record the highest annual rate (3.9 percent), while food, alcohol and tobacco will rise by 2.9 percent, the Eurostat estimate states.

In Croatia, food prices rose significantly more in October than in the euro area, making the annual food price inflation rate about 80 percent higher than the average of euro area countries.