Serbia: Inflation edges up in January

According to the Statistical Office of the Republic of Serbia, consumer prices increased 0.4% over the prior month in January, up from the 0.1% rise in December. Higher prices were recorded in the categories: food and non-alcoholic beverages; and recreation and culture, however the headline print was partly offset by lower prices for clothing and footwear.

Inflation ticked up to 2.1% in January from 2.0% in December, which was well within the Central Bank’s target range of 3.0% plus or minus 1.5 percentage points. Annual average inflation meanwhile was stable at 2.0% in January.

Serbia Inflation Forecast

FocusEconomics Consensus Forecast panelists expect inflation to average 2.5% in 2019, which is down 0.1 percentage points from last month’s forecast, and to average 2.7% in 2020.