Serbia: Inflation ebbs in July from the prior month
Latest reading: Consumer prices increased 2.0% on a year-on-year basis in July, following a 2.7% increase in the prior month. July’s reading was the weakest since March 2021. Inflation thus remained in the lower half of the Central Bank’s 1.5–4.5% target band.
Relative to the prior month’s figures, there were reduced price pressures for food and non-alcoholic beverages (-6.1% on a year-on-year basis vs -3.7% in June), transportation (+7.1% vs +7.8% in June) and clothing and footwear (+1.2% vs +1.3% in June). In contrast, price pressures were higher for housing and utilities in July (+9.7% vs +9.5% in June). Finally, the variation in restaurants and hotels prices was the same as in the prior month (+7.2% in July and June).
Meanwhile, core consumer prices rose 4.5% in annual terms in July, following a 4.6% rise in the prior month.
Finally, consumer prices fell 0.10% in July on a month-on-month basis, following a 0.10% increase in the prior month.