Serbia’s consumer price inflation speeds up to 2.2% y/y in Dec 2013

By bne IntelliNews January 13, 2014

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
CPI total 2.2 1.6 0.2
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
Health 7.6 9.0 0.0
Transport -1.2 -2.0 0.2
Communication 5.5 4.8 0.7
Recreation and culture 5.4 5.6 0.0
Education 0.1 0.5 0.0
Restaurants and hotels 7.9 8.7 0.1
Source: Statistics office      
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