The National Bank of Serbia reported that annual inflation reached 4.1% in September, in line with its expectations, while core inflation stood at 4.9%. The headline rate reflected a low comparative base associated with the previous year’s decree capping retail margins, alongside continued energy price pressure. Consumer prices rose 0.2% from August, driven by higher food prices and a further increase in petroleum product prices amid a prolonged energy shock. Energy prices increased 1.1% on the month and 11.6% annually, with petroleum product prices up 2.3% and 17.3%, respectively. Food and nonalcoholic beverage prices remained 1.3% lower than a year earlier, while seasonal declines in package holidays helped reduce core prices by 0.3% on the month.
National Bank of Serbia reports September inflation at 4.1% amid base effects and energy price pressure
The National Bank of Serbia reported annual inflation of 4.1% in September, in line with expectations, while core inflation was 4.9%. Monthly inflation of 0.2% was driven by food and petroleum product prices, with annual energy inflation reaching 11.6%.