Inflation in Serbia at highest level since 2013

A monthly economy newsletter said on Monday (10.01) that industrial production in Serbia picked up in November compared to October but added that year on year inflation was at its highest level since 2013.

The Macroeconomic Analyses and Trends (MAT) newsletter said that overall industrial production in November 2021 rose by 7 percent y.o.y. and the seasonally adjusted growth was 0.8 percent. “The reason for the rise in November was the high growth of production in the mining sector”, it said.
According to MAT, the prices of food, power, non-food products and services all rose in November bringing inflation to 7.5 percent, the highest since July 2013 when it stood at 8.6 percent.

MAT spokesman Stojan Stamenkovic said that mining sector production was significantly higher because the Zijin company expanded its production at the RTB Bor mining and smelting basin. He added the processing industry was stagnating and that the seasonally adjusted growth of industrial production in November was not high enough to reach the values of mid-2021.

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