The annual inflation rate in the Europan Union, measured by the Harmonised Index of Consumer Prices (HICP), rose to 2.5% in July, reaching its highest level since October 2012, and the rise in consumer prices in Croatia exceeded the EU average, the Eurostat said on Wednesday.

In June 2021, the annual inflation rate in the EU was 2.2%, and in July 2020, it was 0.9%.

In the euro area, consumer prices went up by 2.2%, which was the strongest increase since July 2018. In June, they rose by 1.9% on the year, and in July last year, they increased by 0.4%.

In July 2021, energy prices contributed the most to the annual inflation rate in the euro area, 1.34 percentage points, and they rose by 14.3% year-on-year.

The prices of industrial goods contributed the least to the inflation rate, a mere 0.17 percentage points.

Croatia sees largest increase in consumer prices since joining EU

In the EU, the highest annual inflation rates in July were registered in Estonia (+4.9%), Poland (+4.7%) and Hungary (+4.7%).

The smallest increase in consumer prices in July was registered in Malta (+0.3%).

In Croatia, consumer prices went up by 2.7% on the year in July, registering their highest increase since July 2013, when Croatia joined the EU.

In June, Croatia’s inflation rate was 2.2%, while in July last year, consumer prices dropped by 0.6%.