Cost of average consumer basket in Serbia 10,000 dinars higher than average salary

In the first quarter of 2022, the consumer basket in Serbia cost 1.13 average salaries, or 72,067 dinars, the State Statistics Bureau reports in its “Trends” publication, covering the first quarter of 2022.

This means that the average consumer basket cost 81,500 dinars, which is almost 10,000 dinars more than the average salary.

However, the publication also says that this represents a slight improvement over the fourth quarter of 2021, when 1.14 average salaries had to be set aside for the consumer basket.

The average salary without taxes and health and pension contributions, compared to the same period last year, nominally grew by 13.4 percent and realistically by 4.3 percent. Compared to the fourth quarter of 2021, the average salary is nominally 3 percent higher and actually 0.6 percent higher.

If we look at individual cities, in the first quarter of 2022, Belgrade (0.94), Novi Sad (1.07), Kragujevac (1.10), and Nis (1.11) had purchasing power higher than the state average, while in other cities average wages covered the minimum basket, but not the average household consumption basket.

In the first three months, 2.9 million people were employed in Serbia and 341,000 people were unemployed, while 2.6 million people over the age of 15 were out of the labour market.

The unemployment rate is 10.6 percent and 0.8 percent higher than in the fourth quarter of 2021, the number of unemployed people compared to the same period increased by 24,700, and the number of people out of work increased by 5,900. The latest unemployment rate figures, compared with the last quarter of 2021, are up in all regions.

(Nova Ekonomija, 22.06.2022)


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