Serbia Inflation June 2017

Serbia

Serbia: Inflation inches up in June

July 12, 2017

Consumer prices rose 0.2% from a month earlier in June, which contrasted May’s 0.5% fall. According to the Statistical Office, an uptick in food prices, along with higher prices for communications, recreation and culture, drove the monthly increase. Meanwhile, prices for transportation, clothing and footwear edged down in the month.

Inflation inched up to 3.6% in June from 3.5% a month earlier, although it came in below April’s nearly four-year high 4.0%. Moreover, annual average inflation climbed to a nearly three-year high 2.3% in June from 2.1% in May. Core inflation, which excludes volatile items including energy, food, alcohol and tobacco, edged down from 2.2% in May to 2.0% in June.

The NBS has set its inflation target for this year at 3.0% plus/minus 1.5 percentage points. FocusEconomics Consensus Forecast panelists expect inflation to average 3.3% in 2017, which is up 0.1 percentage points from last month’s forecast. For 2018, the panel sees inflation rising to 3.1%.


Author:, Economist

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Serbia Inflation July 2017

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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