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HNB: Inflation has slowed as food and energy prices have slowed, with service prices rising the most
Croatia🏛️ PoliticsCenter6 days ago

HNB: Inflation has slowed as food and energy prices have slowed, with service prices rising the most

The Croatian National Bank (HNB) reported that inflation slowed in July due to a decrease in the annual growth rate of food prices and energy costs. Food price growth dropped to 0.5% (from 1.8% in June), while energy prices grew by 12.2% (down from 13.2% in June). Industrial product prices fell by 1.1%, compared to a decline of 0.6% in June. Meanwhile, service prices continued to rise at an accelerated pace, reaching 8.5% in July (up from 8.1% in June). Services contributed the most to overall inflation in July, whereas in June their contribution was equal to that of energy prices. The overall inflation rate measured by the index of consumer prices for goods and services was 3.9% year-on-year in July, down 0.2 percentage points from June. This marks the third consecutive month of slowing inflation after rates peaked at 5.8% in April. Harmonized inflation, measured by the European Union’s standard index, stood at 3.6% year-on-year in July, slightly lower than Croatia’s national measure. The slowdown in inflation is attributed primarily to the continued deceleration in food price increases, which reached their lowest level since early 2021.

Inflation in Croatia slowed to 3.9 percent year-on-year in August, according to data released Friday by the Croatian Bureau of Statistics (DZS). This marks the third consecutive month of declining inflation after reaching 4.5 percent in July, down from 5.2 percent in May and 5.8 percent in April. On a monthly basis, inflation fell by 0.2 percentage points compared to July 2026. The slowdown was driven primarily by lower price increases in food, beverages, tobacco, and industrial non-food products, while energy prices continued to rise sharply. The overall consumer price index (CPI) for goods and services rose by 3.9 percent compared to August 2025. Energy prices surged by 12.2 percent annually, while service prices increased by 8.5 percent. Food, drinks, and tobacco saw a modest annual increase of 0.5 percent. However, on a monthly basis, prices for industrial non-food products excluding energy fell by 3 percent, while service prices rose by 1.5 percent and food, drinks, tobacco, and energy each increased by 0.4 percent. According to the first estimate from Eurostat, the harmonized CPI for personal consumption showed an average increase of 3.6 percent compared to July 2025. Several European countries recorded higher inflation rates than Croatia in August, including Lithuania with 5.6 percent, Bulgaria with 4.1 percent, Cyprus with 4 percent, and Spain with 3.8 percent. The average annual inflation rate in the entire euro area stood at 2.9 percent during the same period. Deputy Prime Minister and Finance Minister Tomislav Ćorić stated that the positive trend of slowing inflation continues, noting that Croatia’s inflation rate is now just 0.7 percentage points above the euro zone average, down from 1.4 percentage points in July. He emphasized the government's goal of aligning Croatia’s inflation rate with the euro zone average by the first quarter of 2027. “We will not be satisfied until we bring inflation down to the level of the euro zone average,” he said at a press conference in Banska. The National Bank of Croatia (HNB) noted that the slowdown in overall inflation was largely due to a decrease in the annual rate of change in food prices, which dropped to 0.5 percent from 1.8 percent in July, and a decline in energy prices, which fell to 12.2 percent from 13.2 percent in July. Industrial product prices also decreased by 1.1 percent annually, compared to a 0.6 percent drop in July. Meanwhile, service prices continued to accelerate, rising to 8.5 percent in August, up from 8.1 percent in July. Services remain the largest contributor to overall inflation, adding 2.2 percentage points to the total 3.6 percent inflation rate measured by the harmonized CPI. The HNB highlighted that the harmonized index of overall inflation in August was 0.3 percentage points lower than the national index, reflecting differences in contributions from energy prices. A temporary reduction in energy prices before the renewed escalation of conflict in the Middle East contributed to the slowdown in overall inflation, although this effect was somewhat smaller. Additionally, core inflation, which excludes volatile energy and food prices, declined to 3.4 percent from 3.6 percent in July, reflecting a decrease in the annual rate of change in industrial product prices. The HNB noted that the primary reason for the slowdown in overall inflation in Croatia, measured by the harmonized CPI, was the sharp deceleration in food price inflation, which reached its lowest level since the beginning of 2021. Energy price inflation also slowed, dropping to 11.6 percent from 12.9 percent in July, as retail prices for petroleum derivatives reflected earlier temporary declines in crude oil prices. However, the renewed escalation of conflict in the Middle East led to a significant increase in these prices toward the end of the month. Despite this, services continue to be the component with the highest individual contribution to overall inflation, contributing 2.2 percentage points to the 3.6 percent overall inflation rate in August. According to the DZS, energy prices led the inflation surge in August, jumping by 12.2 percent compared to the same month last year, followed by service prices, which rose by 8.5 percent. Meanwhile, the cost of food, drinks, and tobacco increased by 0.5 percent, and industrial non-food products excluding energy fell by 1.1 percent on an annual basis. Ćorić acknowledged that projecting future trends in energy prices is difficult, given the current global market conditions, but stressed that efforts can still be made to influence other factors affecting domestic inflation. The HNB reiterated that the slowdown in overall inflation was primarily due to the continued decline in food price inflation, which had fallen to its lowest level since early 2021. Energy price inflation also eased slightly, though the impact of geopolitical tensions in the Middle East remained evident in late-August price movements. Despite these developments, services continue to play a dominant role in driving overall inflation, underscoring their significance in the country's economic landscape. The final figures for the consumer price index for August 2026, based on the ECOICOP classification version 2, will be published on August 14, 2026. Until then, the first estimates provide a snapshot of the ongoing trends in inflation and the factors influencing them.

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6 reports

HRT (Hrvatska radiotelevizija) logoHRT (Hrvatska radiotelevizija)State / PublicCenterFactual 90Objective 906 days ago
Services prices are the biggest contributor to overall inflation

The Croatian National Bank (HNB) reported that in July, inflation in Croatia was primarily driven by rising service prices, which contributed the most to overall inflation. While core inflation, excluding volatile energy and food prices, slowed to 3.4%, the inflation rate for services continued to rise, reaching 8.5% year-on-year. The overall inflation rate measured by the Harmonized Index of Consumer Prices (HIPC) was 3.6% compared to July 2025, down from 4.5% in June. Energy price inflation also eased slightly, while food prices remained stable after a significant drop. The HNB noted that the slowdown in inflation was largely due to declining food prices, but service costs remained a major factor.

Bias read (Center): The article presents data-driven economic analysis from the Croatian National Bank, focusing on inflation trends without overtly favoring any political ideology. It reports on statistical changes and economic indicators without commentary that leans toward left or right-wing perspectives. The tone,措

Why factuality (90): This article provides precise numbers and clearly states the source of the data (Državni zavod za statistiku). It includes specific percentages and comparisons against previous months and years, aligning exactly with the primary source data. No additional interpretations or assumptions are made beyo

Why objectivity (90): The tone is strictly informational, with no emotional language or editorializing. It simply reports the data without any attempt to influence or interpret the meaning of the numbers.

HRT (Hrvatska radiotelevizija) logoHRT (Hrvatska radiotelevizija)State / PublicCenterFactual 85Objective 856 days ago
Inflation in Croatia slowed to 3.9 percent

The article reports that inflation in Croatia slowed to 3.9% in July 2026 compared to July 2025, marking a continued three-month decline from previous months. Prices for most components of the index rose, except for industrial non-food products, which fell by 1.1%. Energy prices increased by 12.2%, services by 8.5%, and food, drinks, and tobacco by 0.5%. On a monthly basis, prices for industrial non-energy goods were lower by 3%, while services rose by 1.5%, and other categories slightly increased. The European Statistical Office (Eurostat) estimated an average increase of 3.6% for personal consumption goods and services. Croatia's inflation rate remains higher than the eurozone average, though the gap has narrowed from 1.4 percentage points to 0.7. Finance Minister Tomislav Ćorić noted the positive trend but emphasized the need to bring inflation down further to match the eurozone average by early 2027.

Bias read (Center): The article presents factual economic data and quotes a government official, providing balanced information without overt ideological slant. It focuses on objective economic indicators and government policy goals without promoting a specific political agenda.

Why factuality (85): The article accurately reports the inflation rate and breaks down the contributions of different categories. It references the same data sources as the others and provides consistent figures. Minor discrepancies may arise due to the use of 'prvoj procjeni' (first estimate) rather than final data, bu

Why objectivity (85): The article maintains a balanced approach, discussing both the slowdown in inflation and the continued rise in service prices. It does not take a stance on the implications of these trends, keeping the focus purely on the data.

Telegram.hr logoTelegram.hrIndependentCenterFactual 85Objective 806 days ago
What drives up inflation in Croatia the most?

The Croatian National Bank (HNB) has released a detailed analysis on inflation in Croatia for July, noting that the overall inflation rate measured by the Consumer Price Index (CPI) was 3.9% compared to July of the previous year, down 0.2 percentage points from June 2026. The slowdown in inflation is attributed primarily to a decrease in annual price changes for food (from 1.8% in June to 0.5%), energy (from 13.2% to 12.2%), and industrial products (from -0.6% to -1.1%). However, service prices continued to rise, reaching 8.5% in July, up from 8.1% in June. Services contributed the most to overall inflation in July, whereas in June their contribution was equal to that of energy prices. Inflation in the Eurozone averaged 2.9% in July, while the harmonized index of consumer prices (HIPC) in Croatia showed a slightly lower rate of 3.6%. The HNB noted that the slowdown in inflation was mainly due to further deceleration in food price growth, which reached its lowest level since early 2021.

Bias read (Center): The article presents a factual report based on data provided by the Croatian National Bank and the State Institute for Statistics. It does not exhibit clear ideological framing, loaded language, or one-sided sourcing. The content focuses on economic indicators and statistical analysis without overt偏

Why factuality (85): The content mirrors the previous articles, citing the same data from the HNB and Eurostat. It accurately describes the inflation rates and contributions of various components. No new information is introduced that contradicts the primary sources.

Why objectivity (80): The article remains neutral, focusing on the factual progression of inflation and the role of different sectors. It avoids subjective commentary and sticks to the reported data.

tportal logotportalIndependentCenterFactual 85Objective 806 days ago
HNB: Price inflation in services continues to accelerate

The Croatian National Bank (HNB) reported that inflation in July continued to be driven primarily by rising prices of services, which contributed the most to overall inflation. While overall inflation measured by the consumer price index slowed to 3.9% year-on-year, the rate of increase for goods and services remained high, with service prices reaching 8.5% compared to the previous month. The HNB noted that food prices decreased slightly, energy prices eased, and industrial product prices fell, but service inflation persisted. Eurostat data showed that the harmonized inflation rate for Croatia was 3.6% year-on-year, lower than the national figure, reflecting differences in contributions from energy and food prices.

Bias read (Center): The article presents factual economic data provided by official sources (HNB, Eurostat, State Statistical Office) without overt ideological framing. It reports on inflation trends, sector-specific changes, and statistical comparisons without taking a clear partisan stance. The tone remains neutral,雖

Why factuality (85): The article reports on the Croatian National Bank's analysis of inflation trends, referencing Eurostat data and the Državni zavod za statistiku. It accurately reflects the reported inflation rates and mentions the contribution of different categories like services, energy, and food. However, it does

Why objectivity (80): The tone remains neutral, focusing on reporting the findings of the HNB without introducing personal opinion or bias. The article presents both the slowing inflation and the rising service costs objectively, though there is a slight emphasis on the significance of service price increases.

N1 Hrvatska logoN1 HrvatskaIndependentCenterFactual 85Objective 806 days ago
HNB: Inflation has slowed as food and energy prices have slowed, with service prices rising the most

The Croatian National Bank (HNB) reported that inflation slowed in July due to a decrease in the annual growth rate of food prices and energy costs. Food price growth dropped to 0.5% (from 1.8% in June), while energy prices grew by 12.2% (down from 13.2% in June). Industrial product prices fell by 1.1%, compared to a decline of 0.6% in June. Meanwhile, service prices continued to rise at an accelerated pace, reaching 8.5% in July (up from 8.1% in June). Services contributed the most to overall inflation in July, whereas in June their contribution was equal to that of energy prices. The overall inflation rate measured by the index of consumer prices for goods and services was 3.9% year-on-year in July, down 0.2 percentage points from June. This marks the third consecutive month of slowing inflation after rates peaked at 5.8% in April. Harmonized inflation, measured by the European Union’s standard index, stood at 3.6% year-on-year in July, slightly lower than Croatia’s national measure. The slowdown in inflation is attributed primarily to the continued deceleration in food price increases, which reached their lowest level since early 2021.

Bias read (Center): The article presents factual economic data from the Croatian National Bank and the State Institute for Statistics, providing a balanced overview of inflation trends without overtly favoring any particular political stance. It includes both positive and negative aspects of inflationary pressures, and

Why factuality (85): This article aligns closely with the primary source data from Eurostat and the national statistical office. It provides detailed breakdowns of inflation by category and references the same data points as the first article. There is no significant deviation from the facts presented in the primary sou

Why objectivity (80): The article maintains an objective tone, presenting the data without apparent bias. It focuses on the factors contributing to inflation and the overall trend, without taking sides or expressing personal views.

N1 Hrvatska logoN1 HrvatskaIndependentCenter6 days ago
Inflation in July dropped to 3.9%

Inflation in Croatia fell to 3.9% year-on-year in July 2026 according to preliminary estimates, marking a monthly decline of 0.2% compared to June 2026. The main components of the consumer price index show significant variation, with energy prices rising by 12.2% annually, while industrial non-food products excluding energy saw a decrease of 1.1%. Services increased by 8.5% annually, and food, alcohol, and tobacco rose by 0.5%. On a monthly basis, industrial non-food products excluding energy dropped by 3.0%, while services and energy both increased slightly. Harmonized consumer price index data for July 2026 showed a 3.6% annual increase but a 0.6% monthly drop. Final figures for the consumer price index under the ECOICOP classification version 2 will be published on August 14, 2026.

Bias read (Center): The article presents statistical data on inflation rates and their components without any apparent ideological framing, editorializing, or biased language. It focuses purely on numerical changes and does not take a stance on economic policies or political implications.

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