Consumer prices increased by 1.1% in Serbia in January

Consumer prices increased by 1.1% in Serbia in January
By bne IntelliNews February 22, 2021

Prices of goods and services used for personal consumption in January 2021 increased by 0.4% in relation to December 2020, announced the Statistical Office of the Republic of Serbia on February 22. Consumer prices increased by 1.1% year-on-year in January 2020. Consumer prices in 2020 increased by 1.6% in relation to 2019, on average.

The National Bank of Serbia (NBS) expects inflation to remain low and stable — as it has been for the last eight years — as the country recovers from the coronacrisis. On February 11, the central bank decided to maintain the policy rate at 1.0%. 

Observed by the main groups according to the destination of consumption in January 2021, in relation to the previous month, an increase of prices was noted in the groups housing, water, electricity, gas and other fuels (2.2%), transport (1.3%), recreation and culture (0.9%), restaurants and hotels (0.2%) and food and non-alcoholic beverages and health (each by 0.1%).

A decrease of prices was noted in the groups clothing and footwear (-1.7%) and communication (-0.7%). Prices of other goods and services mostly remained unchanged.

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