Serbia’s annual inflation slows to 12.5% in July

Serbia’s annual inflation slows to 12.5% in July

/ bne IntelliNews

By bne IntelliNews August 13, 2023

Serbia’s average annual inflation eased to 12.5% in July from 13.7% in the previous month (chart), the country’s statistics office data showed on August 11.

Compared to the same month in 2022, the inflation eased by only 0.3 of a percentage point (pp) in July.

The largest price increases were observed in the groups of food and non-alcoholic beverages, which rose by 20.4%. The housing and energy sector experienced an increase of 19.6%, while prices in the hotel and restaurant segment grew by 19.5%.

In July, the only sector that experienced a price reduction was transportation, with a year-on-year decrease of 4.9%. Within this sector, the most significant decline was observed in the prices of motor vehicle fuels, which dropped by 12.2%.

However, month-on-month inflation edged down by 0.1% in July, following a 0.7% increase in the previous month.

Looking at the first seven months of the year, Serbia recorded an average inflation rate of 14.9%.

Compared to December 2023, prices in July registered a 6% increase.

#Serbia #bneChart #macro #inflation

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