CBBH publishes its estimates on core inflation and the services sector inflation for November 2025

The Central Bank of Bosnia and Herzegovina publishes the estimate of core and inflation in the services sector for November 2025. Based on the available official statistical data for consumer price indices in BH, and the corresponding weights, the Central Bank of Bosnia and Herzegovina (CBBH) has estimated (LINK) the annual core inflation, for the first eleven months of 2025, at 4.32%. The annual growth of average consumer prices in the services sector is estimated at 4.83%. The CBBH estimate of core inflation based on official statistical data is only 5 bp above our estimate of core inflation from the December nowcast round.

According to official statistical data, in November, compared to October, inflationary pressures slightly strengthened in the price categories being parts of the core inflation calculation. Consequently, the levels of annual core and inflation in the services sector, for the first eleven months, are almost unchanged compared to the level for the first ten months (Graph 1).

Graph 1: Inflation in BH, period to period

Source: BHAS, CBBH