Average monthly income of Serbian households at EUR 482 in Q3 2012.

By bne IntelliNews December 18, 2012
The average monthly income of Serbian households stood at RSD 54,859 (EUR 482) in the third quarter of 2012, up 11.4% compared to the 2011 monthly average, the statistics office said in a statement. Salaries and pensions accounted for the largest share of incomes, 41.4% and 35.4%, respectively. The average monthly household spending stood at RSD 51,191 in Q3, of which 43.2% were spent on food and beverages. It climbed 7.6% compared to the 2011 monthly average. Serbia's annual inflation remains high in November 2012, well above the central bank's target band (4% +/-1.5% pps) despite slowing down for a first time in seven months. It climbed 11.9% on the year in November and 12.6% compared to the end-2011. High consumer price inflation will bit real wages, which are the main source of citizens' income. We remind that in October (latest available), Serbia's average net wage posted an annual drop of 3.5% in real terms for a second consecutive month. We expect rising year-on-year inflation to have a negative impact on real wages in the following months, while October's increase in public sector salaries and the expected upward adjustment in April 2013 are likely to have a limited impact on private sector wages.

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