Serbia: Inflation slows significantly in January
February 23, 2018
According to the Statistical Institute, consumer prices increased 0.3% from the previous month in January, up from a stagnant no-change in December. Increased prices for fresh vegetables, cable TV services, travel packages and petroleum products more than offset seasonally-cheaper clothes and footwear in January.
Largely due to a negative base effect, inflation decelerated from 3.0% in December to 1.9% in January, coming in at the bottom end of the Central Bank’s target range of 3.0% plus or minus 1.5 percentage points. Annual average inflation, meanwhile, slowed from 3.2% in December to 3.1% in January and core inflation—which excludes volatile items including energy, food, alcohol and cigarettes—ticked down from 1.3% in December to 1.2%.
Author: Edward Gardner, Economist