December 1 (SeeNews) - Serbia has introduced a 60-day price limit on five basic foodstuffs to limit the adverse effect of accelerating inflation, the government said.
The prices of sugar, T-400 type flour, sunflower oil, pork and milk with 2.8% fat content will be capped at their level of November 15 for the next 60 days, the government said in a statement on Tuesday.
The government may extend the measure beyond the initial 60 days if needed, trade minister Tijana Matic said in the statement.
The decision was taken in view of the announcements of new price increases for basic foodstuffs and raw materials, some of which are at ten-year highs, Matic noted.
Serbia's consumer prices rose by 6.6% year-on-year in October, after growing by 5.7% in September, according to official statistics. On a monthly comparison basis, Serbia's consumer price index (CPI) went up 0.9% in October, after rising by 0.8% in September.