However, inflation developments across the euro area still remain subdued. Indeed, annual HICP inflation decelerated to 1.4% in October 2017, down from 1.5% in September, while core inflation fell to 0.9% in October from 1.1% in September. Two indicators are important for assessing the durability of inflation.
Saying “let us first develop capital market and then consider the pension system reform” reminds me of people saying “I will work harder once you pay me better”. To conclude, the pension system reform would provide a substantial contribution to the development of the capital market. The reverse scenario would simply take too long, the luxury of which Serbia can no longer afford!