Results of Inflation Expectations Survey for November

According to the November survey, short- and medium-term inflation expectations of the financial and corporate sectors continued to move within the target band of the National Bank of Serbia (3±1.5%).

Despite higher current inflation, financial and corporate sectors anticipate that inflation will be at 4.0% in November next year, indicating that market participants perceive the current higher inflation as temporary.

Two- and three-year ahead inflation expectations of the financial sector remained at the NBS target midpoint (3%) in November, while those of the corporate sector ranged between 2.5% and 3%.

Anchored inflation expectations, underpinned also by exchange rate stability, enhance the efficiency of the monetary policy in maintaining low, stable and predictable inflation in the medium run, which is one of the necessary preconditions of sustainable economic growth.

For the purpose of more transparent communication with the public, since May 2015 the NBS has been publishing regular monthly reports on inflation expectations of the financial sector, corporate sector, trade unions and households.

The Report on the Results of the Inflation Expectations Survey and the accompanying materials (time series, methodology and the survey questionnaire) can be accessed on the NBS website, section Publications.

Governor’s Office