The euro in Croatia has triggered a wave of price rises

Croatia’s entry into the Eurozone has triggered a real wave of price rises in shops, which led Croatian Prime Minister Andrej Plenković to have to meet with representatives of the State Inspectorate and the Tax Office.

With the change from the national currency of the kuna to the euro, traders significantly raised the prices of products and services. The most important food items such as bread, coffee, cigarettes, but also other necessities became more expensive.

This is a phenomenon that was also apparent in other countries after the introduction of the euro. Retailers ‘rounded up’ prices while raising them at the same time. Some retail chains raised product prices by 10 or even 20 per cent.

The wave of price increases caused public outrage, so the government had to react as well. Prime Minister Plenković met with representatives of financial institutions and announced the implementation of measures to protect citizens from unjustified price increases.

Economy Minister Davor Filipović also reacted. He met with representatives of trade associations and said that the government would not allow „unjustified price increases”. FIlipović further added that „traders are trying to deceive citizens”.

The government will not allow price increases that are not directly related to the introduction of the euro. If necessary, we will freeze the prices – said the minister.

Croatian media are now writing that the government could have expected a price increase and should have prepared accordingly. They point out that a similar problem arose during the introduction of the euro in neighbouring Slovenia in 2004. Back then, the government in Ljubljana solved it by creating ‘blacklists’ of retail chains that had raised prices. Some, on the other hand, argue that it will be difficult, if not impossible; to regulate prices and that most of them will remain at their current level.

By the way, it has to be said that the decision to introduce the euro in Croatia was taken without any public debate. More serious surveys prior to the introduction of the euro established that the Croatian public was divided on the issue. A June 2022 poll showed that as many as 40 per cent of Croatian citizens were against the new currency.

Despite all this, the centre-right pro-Brussels government of Andrej Plenković took the decision to enter Croatia into the euro zone.

Tłum. K.J.

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