Serbia: Inflation climbs to six-month high in February
March 12, 2019
According to the Statistical Office of the Republic of Serbia, consumer prices climbed 0.7% over the previous month in February, accelerating from the 0.4% increase logged in January. The uptick was chiefly driven by higher prices for food and non-alcoholic beverages, and alcoholic beverages and tobacco, whereas lower prices for clothing and footwear partly offset the rise.
Inflation rose to 2.4% in February from 2.1% in January, marking a six-month high and edging closer to the midpoint of the Central Bank’s target range of 3.0% plus or minus 1.5 percentage points. Core inflation, which excludes prices for volatile items such as food, energy, alcohol and cigarettes, ticked up to 1.3% in February from 1.2%. Annual average inflation meanwhile inched up to 2.1% in February from 2.0% in January.
Serbia Inflation Forecast
FocusEconomics Consensus Forecast panelists expect inflation to average 2.4% in 2019, which is down 0.1 percentage points from last month’s forecast, and to average 2.7% in 2020.
Author: Lindsey Ice, Economist