In January 2024, the consumer prices of goods and services for personal consumption saw an average uptick of 0.3% compared to December 2023.
Consumer price indices serve as a gauge for measuring the average shifts in retail prices of items and services used for personal consumption.
Relative to December 2023, the consumer prices of goods and services for personal use in January 2024 showed a collective rise of 0.3%. Furthermore, there was a notable 6.4% increase in consumer prices in January 2024 compared to the same month in the previous year. Throughout 2023, there was an average uptick of 12.1% in consumer prices compared to 2022.
A breakdown by major product and service categories reveals a decline in prices in the Clothing and Footwear category by 1.3% compared to the previous month. Conversely, there were price hikes in the Health category (0.7%), as well as in Housing, water, electricity, gas and other fuels, Recreation and culture, and Restaurants and hotels categories (each experiencing a 0.6% increase). Additionally, increases were observed in the Food and non-alcoholic beverages category (0.5%), Alcoholic beverages and tobacco, and Household equipment and routine maintenance (both registering a 0.2% increase), along with the Transport category (0.1% increase).
Prices for other products and services remained relatively stable. Data from the Statistical Office of the Republic of Serbia indicates an inflation rate of 0.3% for January, with an annualized rate reaching 6.4%. At the close of January 2024, the average exchange rate of the Euro (EUR) stood at 117.1756 Serbian Dinars (RSD), representing a 0.17% decrease compared to the same period last year.
