At the end of 2021, both production and inflation grew

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Statistical indicators at the end of last year show that the tendencies of economic trends are being directed in a positive direction, according to the monthly bulletin of Macroeconomic Analysis and Trends (MAT), of the Economic Institute in Belgrade, reports Tanjug.

The authors of the MAT state that the data on industrial production for December 2021 indicate not only the growth of total industrial production, but also that the manufacturing industry, after declining and then stagnation, began to grow, and that for both total and manufacturing characteristic and seasonally and year-on-year increase.

When it comes to inflation, the analysis points out that the year-on-year inflation rate in September 2021 exceeded the upper limit of the target inflation range and was the highest since August 2013.

In October, November and December, the growth of year-on-year inflation accelerated, and in December, the monthly increase in prices was more than half lower than in the previous four months.

Monthly inflation slowed down in December exclusively under the influence of temporary factors because, with its increased base component, the non-base component was lowered.

Unlike monthly, year-on-year inflation accelerated, mostly under the influence of constant factors, because the increase in its base component was greater than the increase in the non-base component.

It is stated that the acceleration of the growth of the prices of services in December was the main reason for the acceleration of the core inflation in that month, because the prices of services increased by 3.3 percent in November, and by 3.8 percent in December.

Observed, on a monthly basis in December, all basic categories of consumer baskets increased, except for energy, whose prices remained at the November level.

The basic categories of consumer baskets also rose on a year-on-year basis, so food prices rose by 12.1 percent, mostly due to higher prices of fresh fruits and vegetables, energy rose by 13.4 percent and non-food products without energy by four percent.

When the year-on-year inflation in Serbia is compared with the trends in the countries of the European Union (EU), it comes to the data that Serbia had higher year-on-year inflation than the EU average in both November and December last year.

Year-on-year inflation in November was lower than in two European Union countries.

In November and December, year-on-year inflation, according to the concept of the harmonized consumer price index, was 7.5 percent and 7.9 percent in Serbia and 5.2 and 5.3 percent in the European Union, respectively.

Compared to our country, Estonia had higher year-on-year inflation in November, 8.6 percent and Lithuania, 9.3 percent, and in December, Poland, eight percent, Lithuania 10.7 and Estonia 12 percent, Politika writes.