Inflation Movements in December 2018
According to the Serbian Statistical Office, consumer prices gained 0.1% in December. Low monthly inflation reflects lower prices of petroleum products and fresh fruit. The greatest contribution to inflation came from rising prices of fresh vegetables and meat.
In 2018, y-o-y inflation continued to move at a low and stable level, equalling 2.0% in December, its average level for entire 2018. Subdued inflationary pressures, prevailing during the year, were also confirmed by stable core inflation (CPI excluding the prices of food, energy, alcohol and cigarettes) which stood at 1.0% y-o-y in December.
Under the NBS central projection, y-o-y inflation will continue to move within the target tolerance band of 3.0% ± 1.5 pp, reflecting primarily a gradual rise in aggregate demand.