External broker reports(aggregated public sources), Unicredit

Unicredit Research

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External broker reports(aggregated public sources)

Unicredit

Macroeconomics

<ul><li>Headline inflation remained at 5.0% yoy in April (our forecast: 4.7% yoy) as a decline in the contribution from core inflation and prices for alcohol and tobacco was offset by a higher contribution from energy and food inflation.</li><li>The inflation momentum edged up but remained in the 3.0-4.5% range it has been in since September 2023, with some monthly volatility, indicating moderate but sticky price pressure.</li><li>Momentum for core prices remained sticky, with the contribution of core services increasing and that of goods declining.</li></ul><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

Headline inflation remained at 5.0% yoy in April (our forecast: 4.7% yoy) as a decline in the contribution from core inflation and prices for alcohol and tobacco was offset by a higher contribution from energy and food inflation.The inflation momentum edged up but remained in the 3.0-4.5% range it has been in since September 2023, with some monthly volatility, indicating moderate but sticky price pressure.Momentum for core prices remained sticky, with the contribution of core services increasing and that of goods declining.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

EEMEA Macro Flash - Serbia: Inflation Getting Close to the Target Range