By 2013-01-11 16:15:40.0
Inflation Movements in December
The Serbian Statistical Office data show a drop in consumer prices of 0.4% in December 2012. Consistent with the National Bank of Serbia's expectations, after falling in November, year-on-year inflation picked up again in December to reach 12.2%.
Monthly deflation in December 2012 is due to a fall in prices of fresh meat, fruits and vegetables and petroleum products. Despite the deflation, year-on-year inflation rose in December, reflecting the low base effect. According to the National Bank of Serbia's estimate, year-on-year inflation rate will rise in the months ahead on the back of administered and food price rises.
Governor`s Office
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