Serbia Inflation

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.

How should you choose a forecaster if some are too optimistic while others are too pessimistic? FocusEconomics collects Serbian inflation projections for the next ten years from a panel of 22 analysts at the leading national, regional and global forecast institutions. These projections are then validated by our in-house team of economists and data analysts and averaged to provide one Consensus Forecast you can rely on for each indicator. By averaging all forecasts, upside and downside forecasting errors tend to cancel each other out, leading to the most reliable inflation forecast available for Serbian inflation.

Download one of our sample reports to visualize what a Consensus Forecast is and see our Serbian inflation projections.

Want to get access to the full dataset of Serbian inflation forecasts? Send an email to info@focus-economics.com.