Serbia's CPI inflation retreats to 11.2% y/y in Mar 2013

By bne IntelliNews April 15, 2013

Serbia's CPI inflation sustained its downward trend, cooling to a still-high 11.2% y/y in March from 12.4% the month before due to slower food, housing and transport price growth, the statistics office stated. Household-related components and alcohol and tobacco prices, however, remained high given the strong private consumption, thus creating price stickiness. In case food prices (34.5% of the index) fall further in the near term—as expected—this will help cut CPI inflation to bring it down within the central bank’s comfort zone of 2.5%-5.5% in 2013. Inflation has been moving above the upper range of the NBS target band since July 2012.

In monthly terms, CPI inflation was 0.0% m/m compared with 0.5% growth in February.

Food costs fell 0.1% m/m in March, helping cut annual growth to 14.8% y/y from 16.6% the month before. Housing and utility charges (13% of the CPI basket) shrank 0.4% m/m, reducing annual expansion to 6.6% y/y in March from 7.2% a month earlier.

Serb state-owned energy producer EPS said earlier this month that electricity prices will not increase before mid-summer. Electricity costs were supposed to rise in Q1 before delaying the hike to April 1 and then May 1.

Serbia's CPI inflation, y/y,% Dec'12 Jan'13 Feb'13 Mar'13 Share in the CPI basket,%
Total 12.2 12.8 12.4 11.2 100
Food and non-alcoholic beverages 15.4 18 16.6 14.8 34.5
Alcoholic beverages, tobacco and narcotics 31.7 26.7 30.7 30.6 7.8
Clothing and footwear 4.1 2.6 2.6 2.4 4.6
Housing, water, electricity, gas and other fuels 6.9 6.7 7.2 6.6 13
Furnishings, household equipment and routine household maintenance 12.6 12.8 11.9 12.2 4.1
Health 5.8 8.7 8.4 8.1 6.4
Transport 11.5 9.8 8.1 4.6 12.3
Source: Statistical office          
 
Read in IntelliNews Pro
Get IntelliNews Pro

Related Articles

Russia keeps Serbia waiting for promised MIGs

Russia plans to deliver six used MIG 29 aircraft to Serbia by end-2017, Russia’s Federal Service for Military-Technical Cooperation (FSMTC) Director Dmitry Shugaev said on July 19, Sputnik ... more

Fiat workers end 3-week strike that halted production at Serbia's top exporter

Production at the Fiat Chrysler Automobiles (FCA) Srbija factory in Kragujevac will restart on July 19 after workers and Prime Minister Ana Brnabic agreed on the evening of July 18 to end ... more

Evolution Equity Partners closes $125mn cybersecurity-focused fund

Evolution Equity Partners announced on 17 July the final closing of a new fund with total capital commitments of $125mn to make investments in cybersecurity and next generation enterprise software ... more

Most Read

  1. Erdogan lashes out at Germany, Nato, says "God willing" he'll have Russian missiles soon
    1 day ago
  2. STOLYPIN: Donbas continues to be as unpredictable as it is unloved
    1 day ago
  3. EU allows Gazprom to use an additional 40% of OPAL gas pipeline's capacity
    2 days ago
  4. Ukrainian farmers turn to Donbas veterans for protection from raiders
    1 day ago
  5. Tajik president’s 23-year old daughter appointed deputy head of largest Tajik bank
    6 days ago
  1. Erdogan lashes out at Germany, Nato, says "God willing" he'll have Russian missiles soon
    1 day ago
  2. CHINA RISING: When sleeping giants meet
    15 days ago
  3. Belarus’ retail king Euroopt goes on the road
    21 days ago
  4. STOLYPIN: Donbas continues to be as unpredictable as it is unloved
    1 day ago
  5. STOLYPIN: Russia’s cyber-challenge cuts both ways
    23 days ago

Selected articles from our premium news/views wire IntelliNews Pro

Login to IntelliNews Pro
Get IntelliNews Pro

Reports

Dismiss