National Bank of Serbia

01/12/2021 | Press release | Distributed by Public on 01/12/2021 07:37

According to SORS data, y-o-y inflation came at 1.3% in December 2020...

According to SORS data, y-o-y inflation came at 1.3% in December 2020. At the monthly level, consumer prices inched up by 0.1%, led mainly by the prices of non-food products and services, processed food and petroleum products. Seasonally lower prices of fruit and vegetables worked in the opposite direction.

Core inflation (CPI excluding food, energy, alcohol and cigarettes) remained stable, measuring 2.1% y-o-y.

Y-o-y inflation in Serbia was low and stable throughout 2020, averaging 1.6%, just as core inflation.

According to NBS estimate, though it will rise moderately in the first months of 2021, y-o-y inflation will remain stable within the target tolerance band (3.0% ± 1.5 pp) in the coming period.