Headline inflation

BELGRADE - Serbian March inflation was 0.9 pct m-o-m and 16.2 pct y-o-y, with food and energy price increases still accounting for about two thirds of headline inflation, the National Bank of Serbia (NBS) said.

In a statement, it said m-o-m and y-o-y inflation in March was "in line with NBS projections for Q1."

Inflation in the eurozone slowed more sharply than expected in March but food prices jumped even as energy costs eased, official data showed on March 31.

Consumer prices rose by 6.9 percent on an annual basis, down from 8.5 percent in February, according to the European Union's statistics agency.

BELGRADE - According to figures released by the national statistical office, Serbian January inflation amounted to 1.4 pct, or 15.8 pct relative to January 2022, which is consistent with National Bank of Serbia (NBS) expectations, the central bank said in a statement.

"Around two-thirds of headline inflation remain attributable to food and energy prices.

The de-escalation of eurozone inflation, which fell to 9.2% in December, is not expected to convince the European Central Bank to ease its aggressiveness in interest rate hikes, at least for now, analysts note to Kathimerini, a mistake in policy and also its predictions - which have often proven wrong - not ruled out, as it risks acting excessively in its struggle to tame high prices.

U.S. inflation is showing signs of entering a more stubborn phase that will likely require drastic action by the Federal Reserve, a shift that has panicked financial markets and heightens the risks of a recession.

The head of Turkey's Central Bank on Sept. 8 signaled a shift away from the sometimes-volatile headline inflation figure to core inflation, an indicator that may better reflect the true strength of the nation's economy.

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Eurozone inflation unexpectedly slowed in March, adding to the pressure on the European Central Bank (ECB) as it battles an economic slowdown which threatens to undo years of stimulus.

Turkey's monthly inflation rose 0.15 percent in July over the previous month but annual inflation dropped to 9.79 percent, its lowest level in six months, the Turkish Statistical Institute (TÜİK) stated on Aug. 3.

Consumer price inflation fell by 1.1 points, down from 10.9 percent in June, according to TÜİK.

Turkey's Central Bank raised its inflation forecasts for this year and 2018 on April 28, saying it was ready to tighten policy further if needed, while adding that it was confident its recent steps would start to bear fruit in the months ahead, Reuters has reported. 

The Turkish government plans to take a more active role in fighting inflation and will attempt to tame volatile food prices, senior economic officials said, moves designed to give the Central Bank more leeway for monetary easing. 

The change, the officials say, reflects the government's acknowledgment that the Central Bank has limited ability to curb price increases.