Consumer prices increased by 2.5 percent in October compared to the previous month, and increased by 19.1 percent compared to the same month in 2021, according to the Institute for Statistics of the Federation of Bosnia and Herzegovina FBiH.
The rise in food, transport, and energy contributes most to the record annual inflation.
We don't need statistics to see how much money we give for two bags of necessities this year compared to the previous one. The International Monetary Fund International Monetary Fund IMF projected that inflation in BiH will be 10.5 percent at the beginning of the month, but it was a very optimistic assessment, says Doctor of Economic Sciences Ranko Markus.
He says that inflation in BiH is largely imported because the domestic economy is dependent on imports, and he cites the prices of gas and oil derivatives, which BiH has no influence on, and is a major factor in the prices of other products.
Supply chains are hampered. We often hear companies can't purchase raw materials or even purchase them at much higher prices. Energy prices change on a daily basis. The workforce is looking for work abroad, so the saying if you don't work, someone else will go if you don't pay me, it encourages inflationary trends, so at the moment money is less and less, according to Markus.
Markus advises to pay special attention to the prices of electricity and pellets because there is no announcements that it will be different in the near future.
We have reached the stage where the price of a kilowatt-hour from pellets is the same as that from gas. He stated that the price of pellets is a reasonable measure that can be used to influence such speculative flows.
Consumers are encouraged to consume rationally because of the fact that electricity export at significantly higher prices limits domestic consumption.
Markus concluded that a lot will depend on the winter temperatures, which we can't influence, which will be a big factor in the winter, according to Avaz.