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Annual inflation in Serbia rose to 12,8% in July. Food prices rose by 20,3%...

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Prices of personal consumption products and services rose by 12,8 percent in July compared to the same period last year, the Republic Statistical Office (RZS) announced.

Inflation last reached a growth of 12,8 percent in January 2013, while in the last ten years it was higher only in October 2012, when it was 12,9 percent.

According to RZS data, food prices rose by 2021 percent compared to July 20,3, of which meat rose by 25,6 percent compared to July last year, and milk, cheese and eggs by 21,7 percent. Oils and fats are 20,4 percent more expensive, and bread and cereals are 20,5 percent more expensive.

Transport services rose in price by 10,1 percent, and fuel and lubricants for passenger vehicles by 28,3 percent, data show.

Newspapers and magazines went up in price the most, by 37,7 percent.

Compared to June 2022, prices have increased by 1 percent on average, and compared to December 2021, by 8,4 percent.

According to earlier forecasts of the National Bank of Serbia, the maximum inflation should be in June and July. NBS predicted that the maximum inflation will be in the range between 10 and 11 percent.

According to the Executive Board's August projection, year-on-year inflation will most likely peak during the current quarter and then follow a downward trajectory.

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