The annual inflation rate in Serbia decreased to 1.1 percent in September of 2019 from 1.3 percent in the previous month. It was the lowest inflation since April of 2018, as cost slowed for food & non-alcoholic beverages (1 percent from 1.3 percent in August); alcoholic beverages & tobacco (5 percent from 5.1 percent); recreation & culture (1.8 percent from 2 percent); health (2 percent from 2.1 percent); miscellaneous goods & services (1.2 percent from 1.4 percent) and education (0.3 percent from 0.4 percent). Also, prices fell further for transport (-0.8 percent from -0.1 percent) and clothing & footwear (-1.3 percent from -0.9 percent). On the other hand, cost advanced faster for housing & utilities (1.5 percent from 1.3 percent); communication (1.2 percent from 0.5 percent); furniture & household equipment (1.1 percent from 1 percent) and restaurant & hotels (2 percent from 1.3 percent). On a monthly basis, consumer prices went down 0.5 percent, after showing no growth in August. Inflation Rate in Serbia averaged 5.51 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 1.80 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 2.80 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.