In recent months, the prices of food, fuel, and energy have been rising, so the question is whether we are in a new wave of price increases and whether the household budgets of the citizens of Serbia are waiting for new “surprises” from the fall?
Economic analysts say for N1 that the jump in prices is caused by global events – rising prices everywhere in the world and the fact that this year was also marked by the coronavirus pandemic.
If you have the impression that there are fewer and fewer groceries in your basket for the money you used to be able to fill it with, know that this impression does not deceive you. In addition to the records in the household budgets of citizens – proof that prices “jump” is given by statistics.
Statistics say that prices in July 2021 are higher by 3.3 percent
Statistics say that prices in July 2021 are higher by 3.3 percent compared to July of the previous year, and by 3.7 percent higher compared to December 2020. The biggest jump in prices is in several segments – alcoholic beverages and tobacco, food, utilities, fuel.
A liter of unleaded gasoline reached 1.4 euros, and Eurodiesel 1.43 euros. In March, the prices were 1.25 and 1.30 euros per liter.
Banking services are also in this wave of price increases, points out Dejan Gavrilovic from the association “Efektiva”.
“Account maintenance, which we still think is a phantom fee – account maintenance service does not really exist, the bank cannot explain what it is, but we have a situation that some banks have increased in price from 1.5 to 2.5 euros or from 3.5 to 5 euros. So 50 percent is that increase. We also have a situation where banks introduce some new fees that did not exist before – so, for example, if the bank estimates that the debtor has sent an unfounded complaint, it will fine him 17 euros. The only thing left is to start charging for the entrance to the bank, the exit from the bank, the conversation with the employee, the inhalation of the bank’s air,” says Gavrilovic.
Inflation was “pushed” by the situation on a global level, economic analysts explain. They say: basic raw materials and stock exchange products, such as corn, wheat, sunflower, iron, copper have reached record price levels on stock exchanges. Which, later, had a direct impact on consumers’ wallets, explains Miloš Obradovic, economic journalist of the daily “Danas”.
“That is why the price of oil rose in the spring due to the huge price of sunflower on the world market, edible oil reached 1.45 euros, rose in price by 20-30 cents in a few months, and then meat became more expensive – every day we see some new price lists for other types of meat – first it was beef, then pork, now chicken last week… Because animal feed is getting more expensive,” he points out.
The rise in prices is taking place together with the easing of epidemiological measures
Economist Ivan Nikolic estimates for N1 that the rise in prices took place together with the easing of epidemiological measures and that a significant jump occurred when consumption increased. He states, however, that inflation should not worry the citizens at this moment, because, he says, it is still controlled.
“If we know that the goal of the Fed, ie the Central Bank of America, is two percent for this year, and that the annual inflation there is over five percent, then we see that approximately the oscillation that has been noticed in recent months is still satisfactory,” states Nikolic.
Economists add that food prices, above all, limit the purchasing power of consumers and that this is the only obstacle to further dizzying price growth, so they do not expect new price increases, because they say: the purchasing power of consumers in Serbia is modest, N1 reports.
