NBS looks to contain inflation

Serbia's central bank (NBS) has undertaken restrictive measures in a bid to keep inflation at projected levels. NBS Governor Radovan Jelasic said at a news conference on Tuesday that the central bank expected the base inflation rate - reflecting the increase in prices not controlled by the state - not to exceed 3 percent in August, as the goal was to reach a 4 percent base inflation rate by the end of the year. NBS looks to contain inflation “As the prices of meat, milk and other foodstuffs have recently gone up, and with salaries in the public sector having risen as well, the base inflation in August will in all likelihood reach the 3 percent mark and continue to grow in September,” Jelasic said. July’s base inflation rate stood at 2.3 percent. The NBS has decided to introduce moderate restrictive monetary measures to make sure the overall annual inflation rate remains within the projected target set between 4 and 8 percent, by raising its benchmark interest rate from 9.5 to 9.75 percent. The overall inflation rate already reached 6 percent in August. The governor stressed that it was up to the government to assess which additional measures to take in order to contain inflation. “The NBS will, if necessary, introduce new monetary measures to alleviate inflationary pressures.” National Bank of Serbia Governor Radovan Jelasic

NBS looks to contain inflation

“As the prices of meat, milk and other foodstuffs have recently gone up, and with salaries in the public sector having risen as well, the base inflation in August will in all likelihood reach the 3 percent mark and continue to grow in September,” Jelašić said.

July’s base inflation rate stood at 2.3 percent.

The NBS has decided to introduce moderate restrictive monetary measures to make sure the overall annual inflation rate remains within the projected target set between 4 and 8 percent, by raising its benchmark interest rate from 9.5 to 9.75 percent.

The overall inflation rate already reached 6 percent in August.

The governor stressed that it was up to the government to assess which additional measures to take in order to contain inflation.

“The NBS will, if necessary, introduce new monetary measures to alleviate inflationary pressures.”