CBBH publishes the estimates of core inflation and the service sector inflation for January 2026

On the basis of the available official statistics for consumer price indices in BH, and the relevant weights, the Central Bank of Bosnia and Herzegovina (CBBH) has estimated (LINK) the annual core inflation, for January 2026, at 4.17%. The annual growth of average consumer prices in the sector of services has been estimated at 4.90%. The CBBH estimate of core inflation on the basis of official statistics is 63 bp above our estimate from the December round of nowcasts, largely due to changes of weights for the subcategories included in the calculation of core inflation.

According to official statistics, in January 2026, inflation pressures, at the annual level, slightly decreased in the price categories included in the core inflation calculation. Consequently, the levels of the annual core inflation and inflation in the sector of services, for the first month of 2026, do not significantly differ compared to the levels recorded for entire 2025 (Graph 1).

Graph 1: Inflation in BH, period to period

Source: BHAS, CBBH