Serbia Inflation July 2020


Serbia: Inflation hits highest level since January

August 12, 2020

Consumer prices increased 0.22% from the last month in July, slowing down from June's 0.60% increase. The reading was primarily driven by plunging prices for food and non-alcoholic beverages. In addition, price pressures for housing and utilities also grew at a slower rate.

Inflation rose to 2.0% in July, up from June’s 1.6%. July's result represented the highest inflation rate since January. Meanwhile, the trend was unchanged with annual average inflation coming in at June's 1.4% in July. Lastly, harmonized inflation rose to 2.2% from the previous month's 1.8%.

FocusEconomics panelists see inflation ending 2020 at 1.3%, which is unchanged from the previous month’s forecast. For 2021, our panelists expect inflation to end the year at 2.0%.


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Serbia Inflation Chart

Serbia Inflation July 20 20

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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