The inflation rate in Serbia picked up to 1.6 percent year-on-year in July 2019 from a 14-month low of 1.5 percent in the previous month, as prices rose faster for: food and non-alcoholic beverages (2.1 percent vs 1.5 percent); recreation & culture (2.5 percent vs 1.7 percent); communication (0.4 percent vs 0.1 percent); and miscellaneous goods and services (1.6 percent vs 1.4 percent). Meanwhile, inflation was unchanged for housing & utilities (at 1.8 percent), while it slowed for transport (0.5 percent vs 1.4 percent) and alcoholic beverages, tobacco and narcotics (3.7 percent vs 5.2 percent). On a monthly basis, consumer prices fell 0.2 percent, the third consecutive month of decline. Inflation Rate in Serbia averaged 5.57 percent from 2007 until 2019, reaching an all time high of 14.90 percent in June of 2008 and a record low of 0.10 percent in January of 2015.
Inflation Rate in Serbia is expected to be 2.10 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Inflation Rate in Serbia to stand at 2.70 in 12 months time. In the long-term, the Serbia Inflation Rate is projected to trend around 3.10 percent in 2020, according to our econometric models.