THE IMPACT OF GLOBAL ENERGY AND FOOD PRICES ON INFLATION IN SERBIA
THE IMPACT OF GLOBAL ENERGY AND FOOD PRICES ON INFLATION IN SERBIA
Author(s): Milan Janković, Aleksandra GajdobranskiSubject(s): Economy, National Economy, Supranational / Global Economy
Published by: Fakultet za poslovne studije i pravo
Keywords: global energy prices; global food prices; inflation; Serbia; economic policy; external shocks; transmission mechanisms
Summary/Abstract: Global movements in energy and food prices represent key determinants of inflationary processes in small and open economies such as the Republic of Serbia. Since the onset of the COVID-19 pandemic, and especially following the energy crisis and geopolitical tensions triggered by the war in Ukraine, global prices of oil, gas, electricity, and basic food products have experienced strong fluctuations that directly affect the domestic market. In the structure of consumer prices in Serbia, energy and food account for a significant share, making inflation highly sensitive to changes in these global factors. The aim of this paper is to analyze the relationship between global energy and food prices and inflation trends in Serbia during the period 2015–2024, with special attention to the transmission mechanisms through which external shocks are transmitted to domestic prices.
Journal: International Journal of Economics & Law
- Issue Year: 15/2025
- Issue No: 45
- Page Range: 46-57
- Page Count: 12
- Language: English
