Serbia Inflation January 2017


Serbia: Inflation jumps to highest level in nearly three years

February 23, 2017

Consumer prices jumped 1.4% from the previous month in January, (December: -0.1% month-on-month), marking the fastest monthly increase in two years. According to the Statistical Office of the Republic of Serbia (SORS), the monthly jump stemmed largely from a surge in food prices. Higher prices for alcoholic beverages and tobacco as well as for transport also contributed to the monthly increase.

Inflation climbed from 1.6% in December to 2.4% in January, the highest reading since February 2014. Annual average inflation was stable at the previous month’s 1.1% in January.

Meanwhile, core inflation, which does not include more volatile categories such as energy, food, alcohol and tobacco, rose from 1.5% in December to 1.7% in January.

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 Chart

Serbia Inflation January 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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