Serbia's consumer price inflation speeded up to 2.2% y/y in December 2013 from 1.6% y/y a month earlier on a faster growth in communication charges while food and transport prices fell at a weaker pace, the statistics office said in a statement. The annual CPI inflation stayed below the lower bound of the central bank’s (NBS) target tolerance band of 2.5-5.5%, for a third straight month helped by weak domestic demand.
In monthly terms, the CPI edged up 0.2% in December, versus a 0.6% fall in November.
Food and non-alcoholic beverages prices shrank for the third month in a row in December but the fall softened to 2.5% from 4.3% y/y in November. Transport charges also eased their annual decline to 1.2% in December from 2% the month before.
Housing, water, electricity, gas and other fuel prices rose 7.4% y/y in December, after a 7.9% rise in November. Furnishings and household equipment prices grew 3.8% y/y in December, likewise, easing from 4.8% y/y in November. Alcoholic beverages and tobacco charges y/y growth stayed at 10.5% for the second month in a row in December. The annual growth in communication charges quickened to 5.5% in December from 4.8% in November.
|Dec-13 y/y change||Nov-13 y/y change||Dec-13 m/m change|
|Food and non-alcoholic beverages||-2.5||-4.3||0.3|
|Alcoholic beverages, tobacco and narcotics||10.5||10.5||0.3|
|Clothing and footwear||0.5||0.1||1.1|
|Housing, water, electricity, gas and other fuels||7.4||7.9||-0.1|
|Furnishings, household equipment and routine household maintenance||3.8||4.8||0.1|
|Recreation and culture||5.4||5.6||0.0|
|Restaurants and hotels||7.9||8.7||0.1|
|Source: Statistics office|
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