BELGRADE: Serbia’s annual consumer price inflation slowed to 1.2% in 2016, from 1.9% in 2015, data from the national statistics office showed. In December alone, the consumer price inflation in Serbia accelerated to 1.6% year-on-year from 1.5% in the previous month, data published on the website of the national statistics office indicated on Thursday.
On a month-to-month basis, the consumer price index (CPI) declined by 0.1% in December. Food prices fell by 1.0%, prices at restaurants and hotels decreased by 0.2%, and healthcare and education costs depreciated 0.1% each. On the other hand, transport prices rose by 1.0%, while communication prices were up 0.4% each. The prices of clothes and footwear rose by 0.3% on the month in December.
Serbia’s central bank, NBS, said on Thursday that inflation rate is expected to remain stable and low, and to stand within the 1.5%-4.5% target band at the beginning of the year. NBS maintained its key repo rate at 4% on Thursday. The bank last changed the rate in July 2016, when it cut it by 25 basis points to help guide inflation to the targeted band.
