Serbia’s annual inflation slows to 10.2% in September

Serbia’s annual inflation slows to 10.2% in September
/ bne IntelliNews
By bne IntelliNews October 13, 2023

Serbia’s average annual inflation eased to 10.2% in September from 11.5% in the previous month (chart), the country’s statistics office data indicated on October 12.

Consumer prices in September 2023 in relation to December 2022 increased by 6.7%, on average. 

The largest price increases were observed in the groups of hotels and restaurants, which rose by 15.4%, followed by the group of food and non-alcoholic beverages, up by 14.4%.

The sector of furnishing and household equipment experienced an increase of 14.1%, while prices in the utility sector grew by 12%.

Month-on-month inflation edged up by 0.3% in September, following a 0.4% increase in the previous month.

Transport sector prices went up the most on a monthly level, by 1.8%.

Looking at the first nine months of the year, Serbia recorded an average inflation rate of 13.9%.

The IMF predicts that consumer prices in Serbia will increase by 12.4% in 2023 and slow to 5.3% in 2024 following an annual inflation rate of 12% in 2022.