Serbia's consumer price inflation speeded up to 2.2% y/y in December 2013 from 1.6% y/y a month earlier on a faster growth in communication charges while food and transport prices fell at a weaker pace, the statistics office said in a statement. The annual CPI inflation stayed below the lower bound of the central bank’s (NBS) target tolerance band of 2.5-5.5%, for a third straight month helped by weak domestic demand.
In monthly terms, the CPI edged up 0.2% in December, versus a 0.6% fall in November.
Food and non-alcoholic beverages prices shrank for the third month in a row in December but the fall softened to 2.5% from 4.3% y/y in November. Transport charges also eased their annual decline to 1.2% in December from 2% the month before.
Housing, water, electricity, gas and other fuel prices rose 7.4% y/y in December, after a 7.9% rise in November. Furnishings and household equipment prices grew 3.8% y/y in December, likewise, easing from 4.8% y/y in November. Alcoholic beverages and tobacco charges y/y growth stayed at 10.5% for the second month in a row in December. The annual growth in communication charges quickened to 5.5% in December from 4.8% in November.
| Dec-13 y/y change | Nov-13 y/y change | Dec-13 m/m change | ||
| CPI total | 2.2 | 1.6 | 0.2 | |
| Food and non-alcoholic beverages | -2.5 | -4.3 | 0.3 | |
| Alcoholic beverages, tobacco and narcotics | 10.5 | 10.5 | 0.3 | |
| Clothing and footwear | 0.5 | 0.1 | 1.1 | |
| Housing, water, electricity, gas and other fuels | 7.4 | 7.9 | -0.1 | |
| Furnishings, household equipment and routine household maintenance | 3.8 | 4.8 | 0.1 | |
| Health | 7.6 | 9.0 | 0.0 | |
| Transport | -1.2 | -2.0 | 0.2 | |
| Communication | 5.5 | 4.8 | 0.7 | |
| Recreation and culture | 5.4 | 5.6 | 0.0 | |
| Education | 0.1 | 0.5 | 0.0 | |
| Restaurants and hotels | 7.9 | 8.7 | 0.1 | |
| Source: Statistics office | ||||
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