Serbia: Inflation remains subdued in December
January 11, 2019
According to the Statistical Office of the Republic of Serbia, consumer prices rose 0.1% over the previous month in December, following the 0.3% decrease logged in November. The rebound came mainly on the back of higher prices for food and non-alcoholic beverages, but was partially offset by lower transport costs, particularly for petroleum products.
Inflation edged up to 2.0% from 1.9% in November, remaining within the Central Bank’s target range of 3.0% plus or minus 1.5 percentage points. Core inflation, which excludes prices for food, energy, alcohol and cigarettes, was stable at 1.0% in December, pointing to soft underlying inflationary pressures. Overall, annual average inflation came in at 2.0% in 2018, which was down from the 3.2% annual inflation print recorded in 2017.
Serbia Inflation Forecast
FocusEconomics Consensus Forecast panelists expect inflation to average 2.6% in 2019, which is down 0.1 percentage points from last month’s forecast, and to average 2.8% in 2020.