Inflation in Serbia
Serbia - Inflation
Inflation comes in at highest level since September 2013 in August
Consumer prices increased 0.88% from the previous month in August, picking up from the 0.21% increase seen in July. August's figure was the highest reading since April. The reading was primarily due to rising prices for food and non-alcoholic beverages. In addition, price pressures for housing and utilities grew at a quicker rate.
Inflation came in at 4.3% in August, which was up from July’s 3.3%. August's result was the highest inflation rate since September 2013 and overshot market analysts’ expectations of a milder 3.3% increase. Meanwhile, the trend pointed up mildly, with annual average inflation coming in at 2.4% in August (July: 2.2%). Lastly, harmonized inflation rose to 4.2% in August, from July’s 3.1%.
Mate Jelic, analyst at Erste Bank, added:
“Looking ahead, inflation is likely to move above the middle of the target band until the end of Q1 2022, after which we forecast a steady inflation pattern below, but close to 3.0%. We revised our forecast in August and now see average inflation at 3.0% yoy, both in this year and next. The risks to our forecast are still tilted to the upside due to intensified bottlenecks in global supply chains, but also a possible rise in food prices due to relative drought conditions this year.”
FocusEconomics panelists see inflation averaging 2.2% in 2021. In 2022, our panelists project inflation to average 2.4%.
Serbia - Inflation Data
|Inflation Rate (CPI, annual variation in %)||1.4||1.1||3.2||2.0||1.9|
5 years of economic forecasts for more than 30 economic indicators.
Serbia Inflation Chart
Source: Statistical Office
|Bond Yield||3.05||0.0 %||Dec 31|
|Exchange Rate||104.9||-0.31 %||Jan 01|
Get a sample report showing our regional, country and commodities data and analysis.
Request a Trial
Start working with the reports used by the world’s major financial institutions, multinational enterprises & government agencies now. Click on the button below to get started.
September 13, 2021
Consumer prices increased 0.88% from the previous month in August, picking up from the 0.21% increase seen in July.
September 9, 2021
As widely expected by market analysts, the National Bank of Serbia (NBS) left its key policy rate unchanged at the all-time low of 1.00% at its 9 September meeting.
August 31, 2021
Industrial output grew 1.7% in year-on-year terms in July, which was a deterioration from June's 4.4% increase.
August 31, 2021
Economic growth accelerated to 13.7% year-on-year in the second quarter from 1.8% in the first.
August 12, 2021
Consumer prices increased rose 0.20% in July over the prior month, softening from June’s 0.30% increase.