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Serbia Inflation February 2023

Serbia: Inflation comes in at highest level since at least 2008

Inflation came in at 16.1% in February, up from January’s 15.8%. February’s reading marked the highest inflation rate since our current records began in January 2008. The increase was mainly driven by higher price pressures recorded for food and non-alcoholic beverages and housing and utilities.

Consequently, the trend pointed up; annual average inflation rose to 13.2% in February (January: 12.6%). Meanwhile, harmonized inflation rose to 15.4% in February, from the previous month’s 15.2%.

Finally, consumer prices increased 1.38% from the previous month in February, broadly unchanged from January’s 1.40% increase.

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