Serbia’s September consumer price index (CPI) rose 0.3% m/m after edging down 0.1% m/m in August, the country’s statistics bureau said. On an annual basis, inflation slowed to 7.3% y/y in September from 8.0% y/y in August.
Our view:
Inflation is easing on the back of slower growth in regulated prices, disinflationary effects from dampened aggregate demand, stable exchange rate and declining inflation expectations. NBS expects inflation to move within the targeted band in the remaining months of the year, while we forecast inflation of 7.5% y/y at year-end.