The 2011 inflation rate in Serbia, measured by the Consumer Price Index (CPI), reached seven percent, the Statistical Office of the Republic of Serbia said on Thursday.

In December last year, Serbia had negative inflation of 0.7 percent, the statement reads. The average annual growth in consumer prices last year amounted to 11 percent.

In December 2011 in relation to November 2011, the greatest increase in prices was noted in the groups of Clothing and footwear and Restaurants and hotels (by 0.8% each) and Furnishings, household equipment and routine household maintenance (0.4%), while the greatest decrease in prices was noted in the groups Food and non-alcoholic beverages (-2.0%) and Health (-0.2%).

Prices of other products and services mostly remained unchanged. The CPI is defined as a measure of average change in retail prices of goods and services used for personal consumption.