The annual inflation rate in Serbia rose to 3.1 percent in April of 2019 from 2.8 percent in the previous month and well above market expectations of 2.6 percent. It was the highest inflation rate since September of 2017, as prices advanced faster for all main categories: food & non-alcoholic beverages (5.5 percent from 4.9 percent in March), particularly vegetables (37.5 percent), brad and cereals (3 percent) and meat (1.6 percent); housing & utilities (1.5 percent from 1.4 percent); transport (4 percent from 3.8 percent); alcoholic beverages & tobacco (5.2 percent from 5.1 percent); health (2.6 percent from 2.4 percent); miscellaneous goods & services (1.9 percent from 1.3 percent) and furniture & household goods (0.6 percent from 0.4 percent). On a monthly basis, consumer prices went up 0.7 percent, following a 0.4 percent gain and also above consensus of a 0.4 percent increase. Inflation Rate in Serbia averaged 5.65 percent from 2007 until 2019, 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 1.90 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 3.10 percent in 2020, according to our econometric models.