Annual inflation rate in Serbia edged up to 2.2 percent in October 2018 from 2.1 percent in the previous month, but below market expectations of a 2.4 percent rise. Cost advanced faster for food & non-alcoholic beverages (1.7% from 1.4% in September), mainly due to vegetables; transport (6.7% from 5.9%), amid higher prices for fuels & lubricants; recreation & culture (3.1% from 2.8%) and restaurant & hotels (1.3% from 1%); and dropped less for communication (-1.0% from -1.9%). Contrarily, prices slowed for housing & utilities (1.6% from 2.2%); alcoholic beverages & tobacco (5.4% from 5.6%); health (1.7% from 2.2%) and miscellaneous goods & services (1.4% from 2%); while cost fell 1.5 percent for clothing & footwear (from a 0.9% decline in the prior month). On a monthly basis, consumer prices increased 0.3 percent, in line with market consensus and compared with a 0.3 percent drop in September. Inflation Rate in Serbia averaged 5.79 percent from 2007 until 2018, reaching an all time high of 14.90 percent in June of 2008 and a record low of 0.10 percent in January of 2015.
Inflation Rate in Serbia is expected to be 2.30 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Inflation Rate in Serbia to stand at 2.60 in 12 months time. In the long-term, the Serbia Inflation Rate is projected to trend around 2.90 percent in 2020, according to our econometric models.