Serbia Inflation July 2017

Serbia

Serbia: Inflation eases in July

August 11, 2017

Consumer prices fell 0.4% from a month earlier in July, which contrasted June’s 0.2% rise. According to the Statistical Office, a sharp fall in food prices—due in part to the fading away of adverse weather-related factors from H1—along with lower prices for transportation, clothing and footwear drove the monthly decline.

Inflation fell to 3.2% in July from 3.6% a month earlier. Annual average inflation, on the other hand, climbed to a nearly three-year high 2.5% in July from 2.3% in June. Core inflation, which excludes volatile items including energy, food, alcohol and tobacco, edged down from 2.0% in June to 1.7% in July.

The NBS has set its inflation target for this year at 3.0% plus/minus 1.5 percentage points. FocusEconomics Consensus Forecast panelists expect inflation to average 3.3% in 2017, which is up 0.1 percentage points from last month’s forecast. For 2018, the panel sees inflation rising to 3.1%.


Author:, Economist

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Serbia Inflation July 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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