Inflation at 8.6 percent

According to EU methodology, annual inflation in Serbia in December 2008 was 8.6 percent, the Statistical Office announced today. A statement from the Statistical Office said that retail prices of goods and services for personal consumption in December had been 0.9 percent lower than in October. Inflation at 8.6 percent Food and non-alcoholic beverages were 1.6 percent cheaper, while transport prices fell 4.4 percent. The biggest price rises in December were reported in the restaurant and hotel industries at 0.7 percent, clothing and footwear increased 0.6 percent in price, while flats, water, electricity, gas and other heating fuels rose 0.3 percent on average. Recreation and culture costs went up 0.3 percent, while the price of other products and services remained unchanged. Consumer prices rose by an average of 11.7 percent in 2008, said the Statistical Office. Under EU methodology, inflation is measured on the basis of average changes in retail prices for goods and services for personal consumption, including rental prices for flats, financial services, education services and hospitality. Under the Statistical Office’s standard methodology, which measures the growth of retail prices, Serbia recorded deflation of one percent in December, while overall inflation last year was 6.8 percent.

Inflation at 8.6 percent

Food and non-alcoholic beverages were 1.6 percent cheaper, while transport prices fell 4.4 percent.

The biggest price rises in December were reported in the restaurant and hotel industries at 0.7 percent, clothing and footwear increased 0.6 percent in price, while flats, water, electricity, gas and other heating fuels rose 0.3 percent on average.

Recreation and culture costs went up 0.3 percent, while the price of other products and services remained unchanged.

Consumer prices rose by an average of 11.7 percent in 2008, said the Statistical Office.

Under EU methodology, inflation is measured on the basis of average changes in retail prices for goods and services for personal consumption, including rental prices for flats, financial services, education services and hospitality.

Under the Statistical Office’s standard methodology, which measures the growth of retail prices, Serbia recorded deflation of one percent in December, while overall inflation last year was 6.8 percent.