"Inflation may rise above six percent"

National Bank of Serbia (NBS) Governor Dejan Šoškić says it is possible that by the end of 2010 the inflation will go above the target level of six percent.

Izvor: Tanjug

Wednesday, 06.10.2010.

14:11

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National Bank of Serbia (NBS) Governor Dejan Soskic says it is possible that by the end of 2010 the inflation will go above the target level of six percent. Speaking in Belgrade on Wednesday, the central bank chief also expressed hope that the figure will not go above "the upper limit of eight percent". "Inflation may rise above six percent" However, if this were to happen, said he, "it will not be the end of the world". Soskic also voiced expectation that the government will do its share of work regarding the growth of controlled prices. At the Fourth Business Round Table with the Serbian government organized by the Ekonomist Media Group, Soskic pointed out that, pursuant to the agreement with the International Monetary Fund (IMF), the salaries in the public sector and pensions will increase in accordance with the six-month inflation. Soskic said in these six months there was a strong disruption of food prices, and pointed out that the increase in salaries and pensions will additionally affect inflation through the growth in demand. According to Soskic, the changes in the floating exchange rate regime like Serbia's are normal. He stressed that, since the beginning of the year, the dinar has weakened by about 10 percent, that is by 6-7 percent from May until today. Dejan Soskic (Tanjug)

"Inflation may rise above six percent"

However, if this were to happen, said he, "it will not be the end of the world".

Šoškić also voiced expectation that the government will do its share of work regarding the growth of controlled prices.

At the Fourth Business Round Table with the Serbian government organized by the Ekonomist Media Group, Šoškić pointed out that, pursuant to the agreement with the International Monetary Fund (IMF), the salaries in the public sector and pensions will increase in accordance with the six-month inflation.

Šoškić said in these six months there was a strong disruption of food prices, and pointed out that the increase in salaries and pensions will additionally affect inflation through the growth in demand.

According to Šoškić, the changes in the floating exchange rate regime like Serbia's are normal.

He stressed that, since the beginning of the year, the dinar has weakened by about 10 percent, that is by 6-7 percent from May until today.

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