Inflation Report Archive (2009-2018)

Inflation Report – November 2018

Opening Remarks by Vice-Governor Željko Jović at the Presentation of the Inflation Report – November 2018

Speech by Savo Jakovljević, Acting General Manager of the Directorate for Economic Research and Statistics, at the Presentation of the Inflation Report – November 2018

Tables and Charts (XLS):

• III Inflation developments
• IV.1 Inflation determinants - Financial market trends
• IV.2 Inflation determinants - Money and loans
• IV.3 Inflation determinants - Real estate market
• IV.4 Inflation determinants - Aggregate demand
• IV.5 Inflation determinants - Economic activity
• IV.6 Inflation determinants - Labour market developments
• IV.7 Inflation determinants - International environment
• V Inflation projection
• Executive Board Meetings and Changes in the Key Policy Rate
• Text boxes - Tables and charts

Inflation Report – August 2018

Opening Remarks by Governor Jorgovanka Tabaković at the Presentation of the Inflation Report – August 2018

Presentation Along the Opening Remarks by Governor Jorgovanka Tabaković

Speech by Ana Ivković, General Manager of the Directorate for Economic Research and Statistics, at the Presentation of the Inflation Report – August 2018

Presentation Along the Speech by Ana Ivković, General Manager of the Directorate for Economic Research and Statistics

Tables and Charts (XLS):

• III Inflation developments
• IV.1 Inflation determinants - Financial market trends
• IV.2 Inflation determinants - Money and loans
• IV.3 Inflation determinants - Real estate market
• IV.4 Inflation determinants - Aggregate demand
• IV.5 Inflation determinants - Economic activity
• IV.6 Inflation determinants - Labour market developments
• IV.7 Inflation determinants - International environment
• V Inflation projection
• Table A, B
• Executive Board Meetings and Changes in the Key Policy Rate
• Text boxes - Tables and charts

Inflation Report - May 2018

Speech by Governor Jorgovanka Tabaković at the presentation of the Inflation Report – May 2018

Presentation Along the Speech by Governor Jorgovanka Tabaković

Additional Slides to the Presentation of the Inflation Report – May 2018

Tables and Charts (XLS):

• III Inflation developments
• IV.1 Inflation determinants - Financial market trends
• IV.2 Inflation determinants - Money and loans
• IV.3 Inflation determinants - Real estate market
• IV.4 Inflation determinants - Aggregate demand
• IV.5 Inflation determinants - Economic activity
• IV.6 Inflation determinants - Labour market developments
• IV.7 Inflation determinants - International environment
• V Inflation projection
• Table A, B
• Executive Board Meetings and Changes in the Key Policy Rate
• Text boxes - Tables and charts

Inflation Report - February 2018

Tables and Charts (XLS):

• III Inflation developments
• IV.1 Inflation determinants - Financial market trends
• IV.2 Inflation determinants - Money and loans
• IV.3 Inflation determinants - Real estate market
• IV.4 Inflation determinants - Aggregate demand
• IV.5 Inflation determinants - Economic activity
• IV.6 Inflation determinants - Labour market developments
• IV.7 Inflation determinants - International environment
• V Inflation projection
• Table A, B
• Executive Board Meetings and Changes in the Key Policy Rate
• Text boxes - Tables and charts

Inflation Report - November 2017

Opening remarks by Governor Jorgovanka Tabaković at the presentation of the Inflation Report – November 2017

Speech by Ana Ivković, General Manager of the Directorate for Economic Research and Statistics, at the presentation of the Inflation Report – November 2017

Tables and Charts (XLS):

• III Inflation developments
• IV.1 Inflation determinants - Financial market trends
• IV.2 Inflation determinants - Money and loans
• IV.3 Inflation determinants - Real estate market
• IV.4 Inflation determinants - Aggregate demand
• IV.5 Inflation determinants - Economic activity
• IV.6 Inflation determinants - Labour market developments
• IV.7 Inflation determinants - International environment
• V Inflation projection
• Table A, B
• Executive Board Meetings and Changes in the Key Policy Rate
• Text boxes - Tables and charts

Inflation Report - August 2017

Opening remarks by Governor Jorgovanka Tabaković at the presentation of the Inflation Report – August 2017

Speech by Ana Ivković, General Manager of the Directorate for Economic Research and Statistics, at the presentation of the Inflation Report – August 2017

Tables and Charts (XLS):

• III Inflation developments
• IV.1 Inflation determinants - Financial market trends
• IV.2 Inflation determinants - Money and loans
• IV.3 Inflation determinants - Real estate market
• IV.4 Inflation determinants - Aggregate demand
• IV.5 Inflation determinants - Economic activity
• IV.6 Inflation determinants - Labour market developments
• IV.7 Inflation determinants - International environment
• V Inflation projection
• Table A, B
• Executive Board Meetings and Changes in the Key Policy Rate
• Text boxes - Tables and charts

Inflation Report - May 2017

Opening remarks by Governor Jorgovanka Tabaković at the presentation of the Inflation Report – May 2017

Speech by Ana Ivković, General Manager of the Directorate for Economic Research and Statistics, at the presentation of the Inflation Report – May 2017

Tables and Charts (XLS):

• III Inflation developments
• IV.1 Inflation determinants - Financial market trends
• IV.2 Inflation determinants - Money and loans
• IV.3 Inflation determinants - Real estate market
• IV.4 Inflation determinants - Aggregate demand
• IV.5 Inflation determinants - Economic activity
• IV.6 Inflation determinants - Labour market developments
• IV.7 Inflation determinants - International environment
• V Inflation projection
• Table A, B
• Executive Board Meetings and Changes in the Key Policy Rate
• Text boxes - Tables and charts

Inflation Report - February 2017

Opening remarks by Governor Jorgovanka Tabaković at the presentation of the Inflation Report – February 2017

Speech by Ana Ivković, General Manager of the Directorate for Economic Research and Statistics at the presentation of the Inflation Report – February 2017

Tables and Charts (XLS):

• III Inflation developments
• IV.1 Inflation determinants - Financial market trends
• IV.2 Inflation determinants - Money and loans
• IV.3 Inflation determinants - Real estate market
• IV.4 Inflation determinants - Aggregate demand
• IV.5 Inflation determinants - Economic activity
• IV.6 Inflation determinants - Labour market developments
• IV.7 Inflation determinants - International environment
• V Inflation projection
• Table A, B
• Executive Board Meetings and Changes in the Key Policy Rate
• Text boxes - Tables and charts

Inflation Report - November 2016

Speech by Governor Jorgovanka Tabaković at the presentation of the Inflation Report – November 2016

Speech by Ana Ivković, General Manager of the Directorate for Economic Research and Statistics at the presentation of the Inflation Report – November 2016

Tables and Charts (XLS):

• III Inflation developments
• IV.1 Inflation determinants - Financial market trends
• IV.2 Inflation determinants - Money and loans
• IV.3 Inflation determinants - Real estate market
• IV.4 Inflation determinants - Aggregate demand
• IV.5 Inflation determinants - Economic activity
• IV.6 Inflation determinants - Labour market developments
• IV.7 Inflation determinants - International environment
• V Inflation projection
• Table A, B
• Executive Board Meetings and Changes in the Key Policy Rate
• Text boxes - Tables and charts

Speech by NBS Governor Jorgovanka Tabaković at the presentation of the Inflation Report – August 2016

Speech by Ana Ivković, General Manager of the Directorate for Economic Research and Statistics at the presentation of the  Inflation Report – August 2016

Inflation Report - August 2016

Tables and Charts (XLS):

• III Inflation developments
• IV.1 Inflation determinants - Financial market trends
• IV.2 Inflation determinants - Money and loans
• IV.3 Inflation determinants - Real estate market
• IV.4 Inflation determinants - Aggregate demand
• IV.5 Inflation determinants - Economic activity
• IV.6 Inflation determinants - Labour market developments
• IV.7 Inflation determinants - International environment
• V Inflation projection
• Table A, B
• Executive Board Meetings and Changes in the Key Policy Rate
• Text boxes - Tables and charts

Inflation Report - May 2016

Speech by NBS Governor Jorgovanka Tabaković at the presentation of the Inflation Report – May 2016

Speech by Ana Ivković, Acting General Manager of the Directorate for Economic Research and Statistics at the presentation of the  Inflation Report – May 2016

Tables and Charts (XLS):

• III Inflation developments
• IV.1 Inflation determinants - Financial market trends
• IV.2 Inflation determinants - Money and loans
• IV.3 Inflation determinants - Real estate market
• IV.4 Inflation determinants - Aggregate demand
• IV.5 Inflation determinants - Economic activity
• IV.6 Inflation determinants - Labour market developments
• IV.7 Inflation determinants - International environment
• V Inflation projection
• Table A, B
• Executive Board Meetings and Changes in the Key Policy Rate
• Text boxes - Tables and charts

Inflation Report - February 2016

Speech by NBS Governor Jorgovanka Tabaković at the presentation of the Inflation Report – February 2016

Speech by Ana Ivković, Acting General Manager of the Directorate for Economic Research and Statistics at the Presentation of the February 2016 Inflation Report

Tables and Charts (XLS):

• III Inflation developments
• IV.1 Inflation determinants - Financial market trends
• IV.2 Inflation determinants - Money and loans
• IV.3 Inflation determinants - Real estate market
• IV.4 Inflation determinants - Aggregate demand
• IV.5 Inflation determinants - Economic activity
• IV.6 Inflation determinants - Labour market developments
• IV.7 Inflation determinants - International environment
• V Inflation projection
• Table A, B
• Executive Board Meetings and Changes in the Key Policy Rate
• Text boxes - Tables and charts

Inflation Report - November 2015

Speech by Branko Hinić, General Manager of the Directorate for Economic Research and Statistics at the Presentation of the November 2015 Inflation Report

Tables and Charts (XLS):

• III Inflation developments
• IV.1 Inflation determinants - Financial market trends
• IV.2 Inflation determinants - Money and loans
• IV.3 Inflation determinants - Real estate market
• IV.4 Inflation determinants - Aggregate demand
• IV.5 Inflation determinants - Economic activity
• IV.6 Inflation determinants - Labour market developments
• IV.7 Inflation determinants - International environment
• V Inflation projection
• Table A, B
• Executive Board Meetings and Changes in the Key Policy Rate
• Text boxes - Tables and charts

Inflation Report - August 2015

Speech by Branko Hinić, General Manager of the Directorate for Economic Research and Statistics at the Presentation of the August 2015 Inflation Report

Tables and Charts (XLS):

• III Inflation developments
• IV.1 Inflation determinants - Financial market trends
• IV.2 Inflation determinants - Money and loans
• IV.3 Inflation determinants - Real estate market
• IV.4 Inflation determinants - Aggregate demand
• IV.5 Inflation determinants - Economic activity
• IV.6 Inflation determinants - Labour market developments
• IV.7 Inflation determinants - International environment
• V Inflation projection
• Table A, B
• Executive Board Meetings and Changes in the Key Policy Rate
• Text boxes - Tables and charts

Inflation Report - May 2015

Speech by Branko Hinić, General Manager of the Directorate for Economic Research and Statistics at the Presentation of the May 2015 Inflation Report

Tables and Charts (XLS):

• III Inflation developments
• IV.1 Inflation determinants - Financial market trends
• IV.2 Inflation determinants - Money and loans
• IV.3 Inflation determinants - Real estate market
• IV.4 Inflation determinants - Aggregate demand
• IV.5 Inflation determinants - Economic activity
• IV.6 Inflation determinants - Labour market developments
• IV.7 Inflation determinants - International environment
• V Inflation projection
• Table A, B
• Executive Board Meetings and Changes in the Key Policy Rate
• Text boxes - Tables and charts

Inflation Report - February 2015

Speech by Branko Hinić, General Manager of the Directorate for Economic Research and Statistics at the Presentation of the February 2015 Inflation Report

Tables and Charts (XLS):

• III Inflation developments
• IV.1 Inflation determinants - Financial market trends
• IV.2 Inflation determinants - Money and loans
• IV.3 Inflation determinants - Real estate market
• IV.4 Inflation determinants - Aggregate demand
• IV.5 Inflation determinants - Economic activity
• IV.6 Inflation determinants - Labour market developments
• IV.7 Inflation determinants - International environment
• V Inflation projection
• Table A, B
• Executive Board Meetings and Changes in the Key Policy Rate
• Text boxes - Tables and charts

Inflation Report - November 2014

Speech by Branko Hinić, General Manager of the Directorate for Economic Research and Statistics at the Presentation of the November 2014 Inflation Report

Tables and Charts (XLS):

• III Inflation developments
• IV.1 Inflation determinants - Financial market trends
• IV.2 Inflation determinants - Money and loans
• IV.3 Inflation determinants - Real estate market
• IV.4 Inflation determinants - Aggregate demand
• IV.5 Inflation determinants - Economic activity
• IV.6 Inflation determinants - Labour market developments
• IV.7 Inflation determinants - International environment
• V Inflation projection
• Table A, B
• Executive Board Meetings and Changes in the Key Policy Rate
• Text boxes - Tables and charts

Inflation Report - August 2014

Speech by Branko Hinić, General Manager of the Directorate for Economic Research and Statistics at the presentation of the August 2014 Inflation Report

Tables and Charts (XLS):

• III Inflation developments
• IV.1 Inflation determinants - Financial market trends
• IV.2 Inflation determinants - Money and loans
• IV.3 Inflation determinants - Real estate market
• IV.4 Inflation determinants - Aggregate demand
• IV.5 Inflation determinants - Economic activity
• IV.6 Inflation determinants - Labour market developments
• IV.7 Inflation determinants - International environment
• V Inflation projection
• Table A, B
• Executive Board Meetings and Changes in the Key Policy Rate
• Text boxes - Tables and charts

Inflation Report - May 2014

Governor’s introductory address at the presentation of the Inflation Report – May 2014

Speech by Branko Hinić, General Manager of the Directorate for Economic Research and Statistics at the presentation of the May 2014 Inflation Report

Tables and Charts (XLS):

• III Inflation developments
• IV.1 Inflation determinants - Financial market trends
• IV.2 Inflation determinants - Money and loans
• IV.3 Inflation determinants - Real estate market
• IV.4 Inflation determinants - Aggregate demand
• IV.5 Inflation determinants - Economic activity
• IV.6 Inflation determinants - Labour market developments
• IV.7 Inflation determinants - International environment
• V Inflation projection
• Table A, B
• Executive Board Meetings and Changes in the Key Policy Rate
• Text boxes - Tables and charts

Inflation Report - February 2014

Speech by Branko Hinić, General Manager of the Directorate for Economic Research and Statistics at the Presentation of the February 2014 Inflation Report

Tables and Charts (XLS):

• III Inflation developments
• IV.1 Inflation determinants - Financial market trends
• IV.2 Inflation determinants - Money and loans
• IV.3 Inflation determinants - Aggregate demand
• IV.4 Inflation determinants - Economic activity
• IV.5 Inflation determinants - Labour market developments
• IV.6 Inflation determinants - International environment
• V Inflation projection
• Table A, B
• Executive Board Meetings and Changes in the Key Policy Rate
• Text boxes - Tables and charts

Inflation Report - November 2013

Governor’s introductory address at the presentation of the Inflation Report – November 2013

Speech by Branko Hinić, General Manager of the Directorate for Economic Research and Statistics at the Presentation of the November 2013 Inflation Report

Tables and Charts (XLS):

• III Inflation developments
• IV.1 Inflation determinants - Money market developments
• IV.2 Inflation determinants - Movements in the foreign exchange market and the exchange rate
• IV.3 Inflation determinants - Aggregate demand
• IV.4 Inflation determinants - Economic activity
• IV.5 Inflation determinants - Labour market developments
• IV.6 Inflation determinants - International environment
• V Inflation projection
• Table A, B
• Executive Board Meetings and Changes in the Key Policy Rate
• Text boxes - Tables and charts

Inflation Report - August 2013

Speech by Branko Hinić, General Manager of the Directorate for Economic Research and Statistics at the Presentation of the August 2013 Inflation Report

Tables and Charts (XLS):

• III Inflation developments
• IV.1 Inflation determinants - Money market developments
• IV.2 Inflation determinants - Movements in the foreign exchange market and the exchange rate
• IV.3 Inflation determinants - Aggregate demand
• IV.4 Inflation determinants - Economic activity
• IV.5 Inflation determinants - Labour market developments
• IV.6 Inflation determinants - International environment
• V Inflation projection
• Table A, B
• Executive Board Meetings and Changes in the Key Policy Rate
• Text boxes - Tables and charts

Inflation Report - May 2013

Speech by Mr. Branko Hinić, General Manager of the Directorate for Economic Research and Statistics at the Presentation of the May Inflation Report

Tables and Charts (XLS):

• III Inflation developments
• IV.1 Inflation determinants - Money market developments
• IV.2 Inflation determinants - Movements in the foreign exchange market and the exchange rate
• IV.3 Inflation determinants - Aggregate demand
• IV.4 Inflation determinants - Economic activity
• IV.5 Inflation determinants - Labour market developments
• IV.6 Inflation determinants - International environment
• V Inflation projection
• Table A, B
• Text boxes - Tables and charts

Inflation Report - February 2013

Speech by Mr. Branko Hinić, General Manager of the Directorate for Economic Research and Statistics at the Presentation of the February Inflation Report

Tables and Charts (XLS):

• III Inflation developments
• IV.1 Inflation determinants - Money market developments
• IV.2 Inflation determinants - Movements in the foreign exchange market and the exchange rate
• IV.3 Inflation determinants - Aggregate demand
• IV.4 Inflation determinants - Economic activity
• IV.5 Inflation determinants - Labour market developments
• IV.6 Inflation determinants - International environment
• V Inflation projection
• Table A, B
• Executive Board Meetings and Changes in the Key Policy Rate
• Text boxes - Tables and charts

Inflation Report - August 2012

Speech by Mr. Branko Hinić, General Manager of the Monetary Analysis and Statistics Department at the Presentation of the August Inflation Report

Tables and Charts (XLS):

• II Monetary policy since the last report
• III Inflation developments
• IV.1 Inflation determinants - Money market developments
• IV.2 Inflation determinants - Movements in the foreign exchange market and the exchange rate
• IV.3 Inflation determinants - Aggregate demand
• IV.4 Inflation determinants - Economic activity
• IV.5 Inflation determinants - Labour market developments
• IV.6 Inflation determinants - International environment
• V Inflation projection
• Table A, B
• Text boxes - Tables and charts

Inflation Report - May 2012

Vice Governor Markovic’s Speech at the Presentation of the May 2012 Inflation Report

Tables and Charts (XLS):

• II Monetary policy since the last report
• III Inflation developments
• IV.1 Inflation determinants - Money market developments
• IV.2 Inflation determinants - Movements in the foreign exchange market and the exchange rate
• IV.3 Inflation determinants - Aggregate demand
• IV.4 Inflation determinants - Economic activity
• IV.5 Inflation determinants - Labour market developments
• IV.6 Inflation determinants - International environment
• V Inflation projection
• Table A, B
• Text boxes - Tables and charts

Inflation Report- February 2012

Vice Governor Marković’s Speech at the Presentation of the February Inflation Report

Tables and Charts (XLS):

• III Inflation developments
• IV.1 Inflation determinants - Money market developments
• IV.2 Inflation determinants - Movements in the foreign exchange market and the exchange rate
• IV.3 Inflation determinants - Aggregate demand
• IV.4 Inflation determinants - Economic activity
• IV.5 Inflation determinants - Labour market developments
• IV.6 Inflation determinants - International environment
• V Inflation projection
• Table A, B
• Text boxes - Tables and charts

Inflation Report - November 2011

Vice Governor Marković’s Speech at the Presentation of the November Inflation Report

Tables and Charts (XLS):

• III Inflation developments
• IV.1 Inflation determinants - Money market developments
• IV.2 Inflation determinants - Movements in the foreign exchange market and the exchange rate
• IV.3 Inflation determinants - Aggregate demand
• IV.4 Inflation determinants - Economic activity
• IV.5 Inflation determinants - Labour market developments
• IV.6 Inflation determinants - International environment
• V Inflation projection
• Table A, B
• Text boxes - Tables and charts

Inflation Report - August 2011

Vice Governor Markovic’s Speech at the Presentation of the August 2011 Inflation Report

Tables and Charts (XLS):

• II Monetary policy since the February Report
• III Inflation developments
• IV.1 Inflation determinants - Money market developments
• IV.2 Inflation determinants - Movements in the foreign exchange market and the exchange rate
• IV.3 Inflation determinants - Capital market developments
• IV.4 Inflation determinants - Aggregate demand
• IV.5 Inflation determinants - Economic activity
• IV.6 Inflation determinants - Labour market developments
• IV.7 Inflation determinants - International environment
• V Inflation projection
• Table A, B
• Text boxes - Tables and charts

Inflation Report - May 2011

Vice Governor Markovic’s Speech at the Presentation of the May 2011 Inflation Report

Tables and Charts (XLS):

• II Monetary policy since the last report
• III Inflation developments
• IV.1 Inflation determinants - Money market developments
• IV.2 Inflation determinants - Movements in the foreign exchange market and the exchange rate
• IV.3 Inflation determinants - Capital market developments
• IV.4 Inflation determinants - Aggregate demand
• IV.5 Inflation determinants - Economic activity
• IV.6 Inflation determinants - Labour market developments
• IV.7 Inflation determinants - International environment
• V Inflation projection
• Table A, B and V
• Text boxes - Tables and charts

Last Issue - February 2011

Presentation of Inflation Report

Tables and Charts (XLS):

• II Monetary policy since the last report
• III Inflation developments
• IV.1 Inflation determinants - Money market developments
• IV.2 Inflation determinants - Movements in the foreign exchange market and the exchange rate
• IV.3 Inflation determinants - Capital market developments
• IV.4 Inflation determinants - Aggregate demand
• IV.5 Inflation determinants - Economic activity
• IV.6 Inflation determinants - Labour market developments
• IV.7 Inflation determinants - International environment
• V Inflation projection
• Table A, B and V
• Text boxes - Tables and charts

Inflation Report - November 2010

Presentation of Inflation Report

Tables and Charts (XLS):

• II Monetary policy since the last report
• III Inflation developments
• IV.1 Inflation determinants - Money market developments
• IV.2 Inflation determinants - Movements in the foreign exchange market and the exchange rate
• IV.3 Inflation determinants - Capital market developments
• IV.4 Inflation determinants - Aggregate demand
• IV.5 Inflation determinants - Economic activity
• IV.6 Inflation determinants - Labour market developments
• IV.7 Inflation determinants - International environment
• V Inflation projection
• Table A, B and V
• Text boxes - Tables and charts

Inflation Report - August 2010

Presentation of Inflation Report

Tables and Charts (XLS):

• II Monetary policy since the last report
• III Inflation developments
• IV.1 Inflation determinants - Money market developments
• IV.2 Inflation determinants - Movements in the foreign exchange market and the exchange rate
• IV.3 Inflation determinants - Capital market developments
• IV.4 Inflation determinants - Aggregate demand
• IV.5 Inflation determinants - Economic activity
• IV.6 Inflation determinants - Labour market developments
• IV.7 Inflation determinants - International environment
• V Inflation projection
• Table A, B and V

Inflation Report - May 2010

Presentation of Inflation Report - May 2010

Tables and Charts (XLS):

• II Monetary policy since the last report
• III Inflation developments
• IV.1 Inflation determinants - Money market developments
• IV.2 Inflation determinants - Movements in the foreign exchange market and the exchange rate
• IV.3 Inflation determinants - Capital market developments
• IV.4 Inflation determinants - Aggregate demand
• IV.5 Inflation determinants - Economic activity
• IV.6 Inflation determinants - Labour market developments
• IV.7 Inflation determinants - International environment
• V Inflation projection
• Table A, B
• Text boxes - Tables and charts

Inflation report - February 2010

Presentation of Inflation Report - February 2010

Tables and Charts (XLS):

• II Monetary policy since the last report
• III Inflation developments
• IV.1 Inflation determinants - Money market developments
• IV.2 Inflation determinants - Movements in the foreign exchange market and the exchange rate
• IV.3 Inflation determinants - Capital market developments
• IV.4 Inflation determinants - Aggregate demand
• IV.5 Inflation determinants - Economic activity
• IV.6 Inflation determinants - Labour market developments
• IV.7 Inflation determinants - International environment
• V Inflation projection
• Table A, B
• MPC Meetings and Changes in the Key Policy Rate
• Text boxes - Tables and charts