Serbia Inflation December 2017


Serbia: Inflation accelerates in December to hit midpoint of Central Bank's 3.0% target range

January 15, 2018

Consumer prices remained unchanged from the previous month in December, just as they did in November. According to the Statistical Institute, price increases for housing, water, electricity, gas and other fuels, transport, and recreation and culture were offset by lower prices for clothing and footwear, and food and non-alcoholic beverages.

Inflation accelerated from 2.8% in November to 3.0% in December, precisely hitting the midpoint of the Central Bank’s target range. Annual average inflation climbed from 3.0% in November to 3.2% in December. Core inflation—which excludes volatile items including energy, food, alcohol and cigarettes—ticked down to 1.3% in December from 1.4% in November.

The Central Bank set its inflation target for this year at 3.0% plus or minus 1.5 percentage points. FocusEconomics Consensus Forecast panelists expect inflation to average 2.9% in 2018, which is down 0.1 percentage points from last month’s forecast. For 2019, the panel sees inflation rising to 3.2%.

Author:, Economist

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Serbia Inflation Chart

Serbia Inflation December 2017 0

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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