Average Net Salary Surpasses Consumer Basket Value for the First Time in Serbian History
In December, Serbia's average net salary exceeded the average consumer basket value, marking a significant economic milestone.
In December 2023, for the first time in its history, Serbia recorded that the average net salary surpassed the average consumer basket value, according to the latest edition of the Bulletin of Macroeconomic Analysis and Trends.
The average net salary was reported at 108,312 dinars, while the average consumer basket value stood at 105,765 dinars.
This milestone reflects a noteworthy shift in the country's economic landscape.
The analysis indicates that the real Gross Domestic Product (GDP) of Serbia for the period of January to February 2025 is estimated to have increased by approximately 3.0 percent year-on-year, according to available indicators.
However, the analysis points out that the month of February showed somewhat weaker results in certain segments of the economy when compared year-on-year.
Various factors contributed to this outcome, including the calendar impact, as February of this year had one day less than February of the previous year.
Additionally, external recessionary pressures, student blockades, protests by consumer associations against retail chains, have also been noted as influencers impacting economic performance.
When adjusting for the calendar effect, the analysis reports that the industrial production in February did not decrease; instead, it showed a year-on-year increase of 0.8 percent.
In the retail trade sector, real turnover growth was recorded at 1.3 percent.
On the inflation front, a decrease was noted in February both on a month-on-month and year-on-year basis.
After exceeding the targeted range in January 2025, the year-on-year inflation rate returned to within the target limits set by the National Bank of Serbia in February.
The average net salary was reported at 108,312 dinars, while the average consumer basket value stood at 105,765 dinars.
This milestone reflects a noteworthy shift in the country's economic landscape.
The analysis indicates that the real Gross Domestic Product (GDP) of Serbia for the period of January to February 2025 is estimated to have increased by approximately 3.0 percent year-on-year, according to available indicators.
However, the analysis points out that the month of February showed somewhat weaker results in certain segments of the economy when compared year-on-year.
Various factors contributed to this outcome, including the calendar impact, as February of this year had one day less than February of the previous year.
Additionally, external recessionary pressures, student blockades, protests by consumer associations against retail chains, have also been noted as influencers impacting economic performance.
When adjusting for the calendar effect, the analysis reports that the industrial production in February did not decrease; instead, it showed a year-on-year increase of 0.8 percent.
In the retail trade sector, real turnover growth was recorded at 1.3 percent.
On the inflation front, a decrease was noted in February both on a month-on-month and year-on-year basis.
After exceeding the targeted range in January 2025, the year-on-year inflation rate returned to within the target limits set by the National Bank of Serbia in February.
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