Serbia’s headline inflation at 2.8% y/y in October

Serbia’s headline inflation at 2.8% y/y in October
By bne IntelliNews November 14, 2017

Serbia’s headline inflation, reported under COICOP methodology, reached 0.2% m/m and 2.8% y/y in October, according to statistics office data released on November 13.

Inflation in Serbia is expected to accelerate further after in 2016 consumer prices rose by an average of 1.2% from 2015. The International Monetary Fund (IMF) envisages inflation of 3.4% in 2017 and 3% in 2018.

The statistical office data showed that the increase of prices in monthly terms in October was noted in the following groups: clothing and footwear (2.5%), housing, water, electricity, gas and other fuels (0.8%) and health (0.6%). Increase of prices was also recorded in furnishings, household equipment and routine household maintenance (0.4%), transport (0.2%) and recreation and culture (0.1%).

Meanwhile, in monthly terms in October, a decrease of prices was recorded in communications (-0.9%), education (-0.2%) and in the groups food and non-alcoholic beverages and restaurants and hotels (by -0.1% fot each group).

Prices of other products and services mostly remained unchanged, the statistical office said.

When compared with December 2016, the CPI in Serbia increased 3% in October.