Serbia Inflation

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Serbia: Inflation declines in September mainly on lower prices for transport

October 12, 2015

In September, consumer prices were flat over the previous month. The print was down from August’s 0.9%, which had marked a 19-month high due to a hike in prices for electricity. According to the Statistical Office of the Republic of Serbia (SORS), September’s print mainly reflected that an increase in prices for education, food and non-alcoholic beverages and restaurants and hotels was offset by lower costs for recreation and culture, transport and communication.

Inflation fell from August’s 2.1% to 1.4% in September. Consequently, the overall trend pointed downward in September, with annual average inflation inching down from 1.6% in August to 1.5%.

Meanwhile, core inflation, which does not include more volatile categories such as energy, food, alcohol and tobacco, inched down from August’s eight-month high of 2.2% to 2.1% in September.

FocusEconomics Consensus Forecast panelists expect that inflation will average 2.0% in 2015, which is down 0.2 percentage points from last month’s forecast. For 2016, the panel sees inflation at 3.7%.


Author: Ricard Torné, Lead Economist

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Serbia Inflation Chart


Serbia Inflation September 2015

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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