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Serbia's inflation speeds to 3.2% y/y in Sept

Serbia's inflation speeds to 3.2% y/y in Sept Source: serbia.com

BELGRADE (Serbia), October 12 (SeeNews) - Serbia's annual consumer price inflation quickened to 3.2% in September from 2.5% in August, data from the national statistical office showed on Thursday.

On a month-on-month basis, the consumer price index (CPI) rose 0.1% in September after increasing 0.2% in August, the data indicated.

In August, Serbia's central bank, the NBS, lowered its medium-term inflation projections for this year and next due to a weaker-than-expected inflation in the second quarter of 2017. Subsequently, it cut its key interest rate by 25 basis points in September and by another 25 basis points earlier this week to 3.5%. 

Prices of recreation and culture services dropped 5.7% month-on-month in September, while transport costs fell 0.1%. On the other hand, the prices of food and non-alcoholic beverages rose 1.0% and charges in restaurants and hotels grew 0.9% on the month.

The country's annual consumer price inflation slowed to 1.2% in 2016 from 1.9% in 2015.

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