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.
Author: Dirina Mançellari, Senior Economist