Serbia Inflation March 2019


Serbia: Inflation reaches over one-year high in March

April 12, 2019

According to the Statistical Office of the Republic of Serbia, consumer prices rose 0.4% over the prior month in March, down from the 0.7% increase logged in February. The uptick was chiefly driven by a surge in prices for food and non-alcoholic beverages and transport, whereas lower prices for clothing and footwear partly offset the rise.

Inflation accelerated to 2.8% in March from 2.4% in February, representing a fifteen-month high and coming in just below the midpoint of the Central Bank’s target range of 3.0% plus or minus 1.5 percentage points. Core inflation, which excludes prices for volatile items such as food, energy, alcohol and cigarettes, meanwhile was stable at February’s 1.3% in March. Annual average inflation meanwhile inched up to 2.2% in March from 2.1% in February.

FocusEconomics Consensus Forecast panelists expect inflation to average 2.3% in 2019, which is down 0.1 percentage points from last month’s forecast, and to average 2.7% in 2020.

Author:, Economist

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Serbia Inflation Chart

Serbia Inflation March 2019

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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