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Serbia Inflation July 2021

Serbia: Inflation stable in July

Consumer prices increased rose 0.20% in July over the prior month, softening from June’s 0.30% increase. The print reflected a drop in food and non-alcoholic beverages, and clothing and footwear, while prices for alcoholic beverages and tobacco, and transport rose.

Inflation came in at June’s 3.3% in July. Annual average inflation edged up to 2.1% in July (June: 2.0%). Lastly, harmonized inflation fell to 3.1% in July, from the previous month’s 3.2%.

Analysts at the EIU added:

“Inflated base effects in energy and food prices, as well as temporary disruption to global supply chains, will drive near-term fluctuations in headline inflation. However, a weakened labour market and limited inflation expectations among domestic price-setters point to moderate underlying price pressures. We forecast average inflation of 2.5% in 2021 and 2.1% per year in 2022-25.”

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