The annual inflation rate in Serbia decreased to 1.5 percent in June 2019 from 2.2 percent in the previous month and below market consensus of 2.4 percent. It was the lowest inflation rate since April last year, as prices eased for food & non-alcoholic beverages (1.5 percent from 2.7 percent in May); transport (1.4 percent from 3.3 percent); miscellaneous goods & services (1.4 percent from 1.8 percent); and furniture & household equipment (0.8 percent from 0.9 percent). On the other hand, cost advanced further for housing & utilities (1.8 percent from 1.6 percent); recreation & culture (1.7 percent from 1.5 percent); health (2.3 percent from 2 percent); and restaurant& hotels (1.6 percent from 1.4 percent). Also, inflation was steady for alcoholic beverages & tobacco (at 5.2 percent). On a monthly basis, consumer prices fell 0.3 percent, the same pace as in the prior month. Inflation Rate in Serbia averaged 5.60 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.