Serbia Inflation


Inflation soars in August on hike in electricity prices

In August, consumer prices rose 0.9% over the previous month. The print contrasted July’s 0.9% drop and marked a 19-month high. According to the Statistical Office of the Republic of Serbia (SORS), the print mainly reflected much higher prices in the housing, water, electricity, gas and other fuels category, as the government increased electricity prices by 12% from 1 August.

Inflation jumped from July’s 1.0% to 2.1% in August, which marked a nine-month high. Consequently, the overall trend pointed upward in August, with annual average inflation inching up from 1.5% in July to 1.6%.

Meanwhile, core inflation, which does not include more volatile categories such as energy, food, alcohol and tobacco, rose from July’s 1.8% to 2.2% in August, hitting an eight-month high.

FocusEconomics Consensus Forecast panelists expect that inflation will end 2015 at 2.2%, which is down 0.1 percentage points from last month’s forecast. For 2016, the panel sees inflation at 3.9%.

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Serbia Inflation Chart

Serbia Inflation August 2015

Note: Year-on-year and month-on-month variation of consumer prices in %.
Source: Statistical Office of the Republic of Serbia (SORS)

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