Serbia’s annual consumer price inflation accelerated to 1.5% in October from 0.6% in September, data from the national statistics office showed on Monday.
On a month-to-month basis, the consumer price index (CPI) rose 0.7% in October, food prices grew by 0.6%, energy and gas charges were up 1.5% and clothing and footwear prices increased 1.1%.
On Thursday, Serbia’s central bank, NBS, explained that the annual inflation rate is expected to start growing gradually and to stand within the 1.5%-4.5% target band at the beginning of next year.
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On November 10, NBS maintained its key repo rate at 4%. The bank last changed the rate in July 2016, when it cut it by 25 basis points to help guide inflation to the targeted band.
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