Serbia: Inflation comes in at highest level since our records began in November
Inflation ticked up slightly to 15.1% in November from Octobers 15.0%. November’s figure represented the highest inflation rate since our current records began.
The trend pointed up, with annual average inflation coming in at 11.4% in November (October: 10.7%). Meanwhile, harmonized inflation edged down to 14.5% in November, from the previous month’s 14.6%.
Finally, consumer prices rose 0.97% in November over the previous month, coming in below the 1.86% rise recorded in October. November’s result marked the weakest reading since March.
Despite inflation reaching a series-high in November, lower commodity prices, dampened global demand and tighter access to credit in Serbia is denting price pressures. The rate of increase of inflation and core inflation have slowed significantly in November.
Accordingly, FocusEconomics panelists believe that inflation peaked in Q4 2022, and will now start to slowly ease in 2023.