CNB Council: Core inflation in September at 1.9%

Published: 3/11/2021

At its session today, the CNB Council discussed current economic and financial developments and adopted several other decisions on matters falling within its competence.

Growth in economic activity accelerated in the period from July to September relative to the previous quarter. Owing to a prolonged tourist season, the number of employed persons continued to grow in September with a similar intensity as in July and August, while the fall in unemployment accelerated. The annual growth rate of consumer prices accelerated from 3.1% in August to 3.3% in September, primarily due to the faster annual increase in energy prices (most notably petroleum products). Core inflation also edged up in September, but remained at 1.9%. The average daily surplus kuna liquidity of the domestic banking market increased in October, mainly as a result of the seasonal decrease in currency outside credit institutions. The annual growth of bank placements in September remained unchanged from the month before (4.1%) as a result of the slowdown in the growth of corporate placements (from 1.2% in August to 1.0% in September) and a moderate acceleration in the growth of household placements (from 4.6% to 4.7%).

The CNB Council gave its approval to the Supervisory Board of OTP banka d.d. for the appointment of Bruno Biuk, Zvonimir Akrap and Slaven Celić as Members of the Management Board of OTP banka. 

The CNB Council adopted the Decision on the basic features and putting into circulation of the commemorative 25 kuna circulation coin: “World Children’s Day, 20 November 2021”. The CNB Council also adopted the Decision on the issuance and the sale of commemorative gold and silver coin “Dalmatian dog”, as well as the Decision on the issuance and the sale of commemorative 2 kuna coin as part of the Gold Kuna series.