Serbia Inflation December 2016

Serbia

Serbia: Inflation inches up in December

January 30, 2017

Consumer prices fell 0.1% in December from the previous month, mirroring November’s decrease. According to the Statistical Office of the Republic of Serbia (SORS), the fall was driven by a decrease in the price of food and beverages, tobacco, communication and restaurants and hotels.

Inflation inched up from 1.5% in November to 1.6% in December, the highest reading in nearly a year. Annual average inflation was stable at the previous month’s 1.1% in December.

Meanwhile, core inflation, which does not include more volatile categories such as energy, food, alcohol and tobacco, inched up from 1.4% in November to 1.5% in December.

FocusEconomics Consensus Forecast panelists expect that inflation will average 1.3% in 2017, which is down 0.2 percentage points from last month’s forecast. For 2018, the panel sees inflation at 2.5%.


Author:, Senior Economist

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Serbia Inflation December 2016

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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