Serbia Inflation February 2018


Serbia: Inflation slows again in February

March 12, 2018

Consumer prices increased 0.3% from the previous month in February, matching January’s 0.3%, according to the Statistical Institute. Seasonally higher prices for fresh fruit and vegetables, coupled with more expensive cigarettes and petroleum products, spurred February’s increase in consumer prices.

Largely due to a base effect, inflation decelerated to 1.5% in February from 1.9% in January, coming in at the bottom of the Central Bank’s target range of 3.0% plus or minus 1.5 percentage points. Annual average inflation, meanwhile, slowed to 3.0% in February from 3.1% in January. Core inflation—which excludes volatile items including energy, food, alcohol and cigarettes—ticked up to 1.3% in February from 1.2% in January.

The National Bank of Serbia’s inflation target for this year and next is 3.0% plus or minus 1.5 percentage points, and it expects inflation to move within this range until the end of 2019. FocusEconomics Consensus Forecast panelists expect inflation to average 2.9% in 2018, which is unchanged from last month’s forecast, before rising to 3.3% in 2019.

Author:, Economist

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Serbia Inflation Chart

Serbia Inflation February 2018

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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