Serbia’s annual inflation stands at 15.1% in November

Serbia’s annual inflation stands at 15.1% in November
/ bne IntelliNews
By bne IntelliNews December 12, 2022

Serbia’s annual consumer price inflation accelerated slightly by only 0.1 of a percentage point (pp) from a month earlier to 15.1% in November (chart), statistics office data released on December 12 indicated.

The annual inflation increased by a slower pace than in October, when it accelerated by 1 pp from September.

The central bank said recently that headline inflation is expected to remain elevated through the end of 2022 and early next year, but will then be on a downward trajectory, with a more significant decline in the second half of 2023.

Year on year, prices in November went up the most in the group of food and non-alcoholic beverages, by 22.5%, followed by hotels and restaurants (21.3%), housing, water, electricity, gas and other fuels (18.4%), furnishings and household maintenance (15.9%) and transport prices (12.9%).

In the food category, the prices of milk, cheese and eggs posted the biggest increase of 43.1% y/y in November.

In the group of housing, water, electricity, gas and other fuels, prices of solid fuels increased the most, by 49.4% y/y, as well as apartment rent prices, by 30.1% y/y.

At a monthly level, overall inflation was 1% in November, down from 1.9% a month before.

Compared to December 2021, November inflation was 14.6% higher on average.

In the first eleven months of the year, Serbia posted inflation of 11.7%.