If energy prices had risen last year when they were supposed to, inflation in Serbia would probably have reached a level of around 20% in 2022 and started to calm down significantly at the beginning of this year, according to an analysis published in the latest print edition of New Economics.
Last year, the Government of Serbia tried to somehow keep inflation “under control” with administrative measures, so the prices of several basic items, such as flour, cooking oil, sugar, long-life milk, were frozen.
In addition, fuel prices at gas stations are limited, so every Friday it is determined how much diesel and unleaded gasoline will cost.
In addition, it significantly increased the price of imported natural gas, but the government did not allow gas prices to rise either for households or for industry.
During the summer of 2022, an increase in the price of electricity for households by about 10% was approved (6.5% is an increase in the price of electricity, but at the same time the “fee for renewable energy sources” was practically doubled, so the total price increase is about 10%), and by 11% the price of gas has increased.
Since September, the price of electricity has risen from 75 euros per megawatt-hour to 95 euros per megawatt-hour, and since January of this year, the economy has been paying 103 euros per megawatt-hour.