Serbia’s annual consumer price inflation speeded up by 0.9 percentage points (pp) in July from June to 12.8% (chart), the country's statistics office said on August 12.
However, the inflation rose by a slower pace than in June, when it accelerated by 1.5 pp from May. Last week, Serbia’s central bank raised the reference interest rate again by 0.25 of a percentage point (pp), to 3% due to the persisting inflationary pressures.
Year on year, prices in July increased the most in the group of food and non-alcoholic beverages, by 19.7%, followed by transport (18.9%), as well as furnishings and household equipment (12.1%).
At a monthly level, inflation was 1% in July, down from 1.6% a month before.
In the first seven months of the year, Serbia posted inflation of 10.1%.
Recently, Serbia's trade ministry decided to cap bread prices to protect citizens' standard of living. In July, bread and cereals prices jumped by 20.5%.