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National Bank of Serbia believes that y-o-y inflation will continue to decline vigorously over the months to come.

According to Serbia's Statistical Office data, August saw a 0.4% rise in consumer prices. Y-o-y inflation continued down to 7.3% in August. Consistent with expectations, monthly inflation was due mainly to administered price growth - electricity, cigarettes and medicament's, while food prices declined. The National Bank of Serbia remains firm in its assessment that y-o-y inflation will continue to decline vigorously over the months to come, returning within the target tolerance band by October 2013. This projection includes the expected administered price growth until the year-end. Inflation is expected to stay within the target tolerance band after October. This will be due to past monetary policy measures, a good agricultural season and low aggregate demand. National Bank of Serbia
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Publication:Balkan Business News
Date:Sep 13, 2013
Words:120
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