Croatia "challenges" inflation - Sets "ceiling" prices for 30 basic products
The Croatian government has decided to add 30 more items to the list of 70 basic products with capped prices, in an effort to ease inflationary pressure on citizens.
"We want to help the most vulnerable, by easing the costs of the consumer basket and, of course, act against inflationary pressure," Prime Minister Andrej Plenkovic said at a weekly cabinet meeting.
Products added to the list include bread, cookies, honey, tea, sausage, mayonnaise, canned corn and kitchen paper, among others. Starting December 1, retail chains will have to offer at least one product from each category at prices set by the government.
In September 2022, the government decided to cap the prices of several basic products such as cooking oil, milk, flour, sugar and chicken, as part of measures to ease the impact of the energy crisis and the Covid pandemic on consumers. In January this year, the cabinet added 40 more items to the existing list of 30 basic products, following a nationwide boycott of shops.
According to the EU Harmonized Index of Consumer Prices, prices of goods and services for personal consumption in Croatia increased by 4.0% year-on-year in October, following a 4.6% expansion in September.
The European Commission raised its inflation forecast for the Adriatic country to 4.3% this year, from 3.4% previously projected, and to 2.8% next year. In 2024, average annual inflation in Croatia was reduced to 3.0%, from 8.0% in 2023. EU-harmonized prices expanded by an average of 4.0% last year, compared to 8.4% in 2023.
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