Serbia: Inflation hits highest level since December 2020 in February
Consumer prices rose 0.60% over the previous month in February, picking up from January’s 0.40% rise. February’s reading was the sharpest increase in prices since June 2020. Looking at the details of the release, prices for food and non-alcoholic beverages were broadly unchanged in February while prices for housing and utilities dropped after growing in the previous month. Meanwhile, transportation price growth softened. In addition, prices for alcoholic beverages and tobacco gained steam.
Inflation ticked up to 1.2% in February, from January’s 1.1%. February’s reading represented the highest inflation rate since December 2020. Meanwhile, the trend pointed down slightly, with annual average inflation coming in at 1.4% in February (January: 1.5%). Lastly, harmonized inflation fell to 1.8% from January’s 2.1%.