spot_img
Supported byspot_img

Serbia, Annual inflation has hovered at a level of 15-15.1 percent and will jump to 15.8 percent in the first month of 2023

Compared to the previous month, inflation increased by 1.4 percent. Just two or three years ago, the annual inflation was that much.

To be honest, the National Bank predicted this development of the situation. At the presentation of the report on inflation last week, it was said that inflation will be up to one percentage point by the end of the quarter, and then its decline will begin, first slower, and faster from the first half of the year.

The inflation projections of the National Bank state that inflation will reach 15.9 percent in January, and that it will slow down slightly to 15.7 and 15.6 percent in February and March, respectively.

Supported by

Economist Saša Đogović explains what is behind this jump in inflation, the highest monthly since October last year.

“This is completely expected, because both electricity and gas went up in January. They have pushed prices up. The increase in electricity prices of around eight percent contributed to inflation of 0.8 percent. When we add to that the increase in the price of gas, as well as their indirect effect on the increase in the price of other products in the production of which they are used, this explains the biggest part of the increase in inflation,” notes Đogović.

According to the data of the Bureau of Statistics, the price of electricity rose by 7.1 percent in January compared to December, and gas by 10.2 percent.

Supported by

According to Đogović, the inflationary pressure will be high in the first quarter, and then it will begin to ease.

“This year, we will definitely have a trend of weakening consumer price growth, especially in the second half of the year.” Inflation in December will probably be around 10 percent, and if the agricultural harvest is better than last year, even below that,” Đogović concludes.

Sign up for business updates & specials.

Suppported byOwner's Engineer

Voluntary pension insurance in Serbia: Key statistics and trends for Q2

According to a report from the National Bank of Serbia (NBS), 223,452 people, or 9.6% of the total workforce in Serbia, are participating in...

Serbia’s economic outlook: Inflation stabilized and foreign investments at record highs

In a video message at the Belgrade Economic Forum, Jorgovanka Tabaković, Governor of the National Bank of Serbia, emphasized the challenges of balancing price...

Addressing the challenges and opportunities of AI implementation in Serbia

At the "Innovate with Data" conference, Aleksandar Marinković, director of ASEE in Serbia, highlighted that the application of artificial intelligence (AI) in local businesses...
Supported byspot_img
Supported byspot_img
Supported byspot_img
error: Content is protected !!