Prices in Serbia continue to grow

The positive effects of higher civil servant salaries and pensions will be cancelled out by the global trends of rising food prices – meat, oil, fuel, electricity and utilities are becoming increasingly more expensive.

According to the data collated by the Serbian Bureau of Statistics, the year-on-year inflation in Serbia is 3.3%, which means that prices are higher than in June last year.

If in June, the retail price of one kilo of chicken drumsticks was 287 dinars, now they retail between 340 and 380 dinars. A kilogramme of pork cost 400 dinars in June, while now it costs 550 dinars. A kilogramme of beef went from 610 dinars, what it cost in June, to 700-730 dinars.

Cooking oil cost 176 dinars a litre in June last year. Now, it costs 1/3 more than in the same month last year. The prices of other staple groceries, such as milk, yoghurt, flour and bread, have remained mostly stagnant over the past year, according to Danas daily. In addition to food, alcoholic beverages have also gone up in price – wine by 6.6% and spirits by 4.9%.

This upward trend is not only recorded in Serbia. According to Milojko Arsić, professor at the Faculty of Economics in Belgrade, it is part of a global trend.  

According to him, the best example is the increase in cooking oil prices caused by prices abroad when Serbian exporters decided to sell the oil at the same price as the export one. Nobody can pinpoint the exact cause of the price increase – it could be a market disturbance, e.g. due to the disruption of the supply chain caused by the pandemic, prices pushing up the fiscal and monetary expansion around the world, or an excess of available money.

(021.rs, 11.08.2021)

https://www.021.rs/story/Info/Biznis-i-ekonomija/281784/Poskupljenja-u-Srbiji-posledica-rasta-cena-u-svetu-sta-nas-ceka-na-jesen.html

 

This post is also available in: Italiano

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