Serbia Inflation November 2018


Serbia: Inflation eases in November

December 12, 2018

In November, consumer prices fell 0.3% over the prior month, swinging from the 0.3% increase recorded in October. According to the Statistical Office of the Republic of Serbia, the decrease was primarily driven by lower prices for food and non-alcoholic beverages, due to seasonal factors, and lower transport costs owing to the decline in global crude oil prices in the month.

Inflation softened to 1.9% in November from 2.2% in October, remaining within the Central Bank’s target range of 3.0% plus or minus 1.5 percentage points. Annual average inflation meanwhile was stable at 2.1% in November. Core inflation, which excludes prices for food, energy, alcohol and cigarettes, ticked down to 1.0% in November from 1.1% in October.

FocusEconomics Consensus Forecast panelists expect inflation to average 2.9% in 2019, which is unchanged from last month’s forecast, and to average 3.0% in 2020.


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Serbia Inflation Chart

Serbia Inflation November 2018

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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