Serbia central bank reported FX reserves of EUR 22.09 bln (USD 23.8 bln) at the end of May, mainly due to the central bank’s foreign currency purchases on the domestic market. Net FX reserves also increased, totaling EUR 18.121 bln at the end of May. Meanwhile, the country’s annual inflation rate declined to 14.8% in May from 15.1% in April, falling from a record high of 16.2% in March. Consumer prices rose 0.9% MoM in May, following a 0.7% rise in April.