The annual inflation rate in Serbia rose by 3.5% in May 2026 from 3.3% in the previous month. The latest figure marked the largest growth since August 2025, lifted by higher costs in housing utilities (9.5% vs 9.2% in April), health (7.6% vs 7.5%), transportation (8.4% vs 6.3%), information and communication (1.6% vs 1.3%), and miscellaneous goods and services (2% vs 1.6%). At the same time, costs recovered in furnishings and household equipment (0.2% vs -0.3%), while price growth remained steady in recreation and culture (8.7%), education (1.9%), and clothing and footwear (1.5%). Meanwhile, prices moderated in insurance and financial services (5.5% vs 6.4%), restaurants and hotels (6.4% vs 6.6%), and alcoholic beverages and tobacco (4.9% vs 6.1%), while costs declined further in food and non-alcoholic beverages (-1.5% vs -1.1%). On a monthly basis, consumer prices grew by 0.3% in May, easing from a 0.8% gain in the preceding period. source: Statistical Office of the Republic of Serbia

Inflation Rate in Serbia increased to 3.50 percent in May from 3.30 percent in April of 2026. Inflation Rate in Serbia averaged 5.69 percent from 2007 until 2026, reaching an all time high of 16.20 percent in March of 2023 and a record low of 0.10 percent in January of 2015. This page provides - Serbia Inflation Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Serbia Inflation Rate - data, historical chart, forecasts and calendar of releases - was last updated on July of 2026.

Inflation Rate in Serbia increased to 3.50 percent in May from 3.30 percent in April of 2026. Inflation Rate in Serbia is expected to be 3.30 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Serbia Inflation Rate is projected to trend around 3.10 percent in 2027 and 2.70 percent in 2028, according to our econometric models.



Calendar GMT Reference Actual Previous Consensus TEForecast
2026-05-12 10:00 AM
Inflation Rate YoY
Apr 3.3% 2.8% 3.1% 3.0%
2026-06-12 10:00 AM
Inflation Rate YoY
May 3.5% 3.3% 3.4%
2026-07-13 10:00 AM
Inflation Rate YoY
Jun 3.5% 3.5%


Related Last Previous Unit Reference
CPI 103.00 102.60 points May 2026
CPI Housing Utilities 107.80 107.40 points May 2026
CPI Transportation 106.30 105.20 points May 2026
Food Inflation -1.50 -1.10 percent May 2026
Inflation Rate YoY 3.50 3.30 percent May 2026
Inflation Rate MoM 0.30 0.80 percent May 2026
PPI YoY 8.40 7.80 percent May 2026


Serbia Inflation Rate
In Serbia, the most important category in the Consumer Price Index is Food & Non-Alcoholic Beverages (31% of the total weight). Housing & Utilities accounts for 14%; Transport for 12%; Alcoholic Beverages, Tobacco & Narcotics for 7%; Communications for 6% and Recreation & Culture for 6%. The index also includes: Health (5%), Miscellaneous Goods & Services (5%), Furniture, Household Goods & Maintenance (4%), Clothing & Footwear (4%), Restaurants & Hotels (3%), and Education (2%).
Actual Previous Highest Lowest Dates Unit Frequency
3.50 3.30 16.20 0.10 2007 - 2026 percent Monthly
2006=100

News Stream
Serbia Inflation Rate Rises to 9-Month High
The annual inflation rate in Serbia rose by 3.5% in May 2026 from 3.3% in the previous month. The latest figure marked the largest growth since August 2025, lifted by higher costs in housing utilities (9.5% vs 9.2% in April), health (7.6% vs 7.5%), transportation (8.4% vs 6.3%), information and communication (1.6% vs 1.3%), and miscellaneous goods and services (2% vs 1.6%). At the same time, costs recovered in furnishings and household equipment (0.2% vs -0.3%), while price growth remained steady in recreation and culture (8.7%), education (1.9%), and clothing and footwear (1.5%). Meanwhile, prices moderated in insurance and financial services (5.5% vs 6.4%), restaurants and hotels (6.4% vs 6.6%), and alcoholic beverages and tobacco (4.9% vs 6.1%), while costs declined further in food and non-alcoholic beverages (-1.5% vs -1.1%). On a monthly basis, consumer prices grew by 0.3% in May, easing from a 0.8% gain in the preceding period.
2026-06-12
Serbia Inflation Rate Hits 8-Month High
The annual inflation rate in Serbia rose by 3.3% in April 2026 from 2.8% in the previous month, surpassing market expectations of 3.1%. This marked the largest growth in eight months as deflation eased slightly in food and non-alcoholic beverages (-1.1% vs -1.2% in March). Additionally, costs increased for alcoholic beverages and tobacco (6.1% vs 5.9%), clothing and footwear (1.5% vs 1.4%), housing and utilities (9.2% vs 8.9%), health (7.5% vs 7.3%), transportation (6.3% vs 2.7%), recreation and culture (8.7% vs 8.6%), and restaurants and hotels (6.6% vs 6.3%). Meanwhile, price growth slowed for education (1.9% vs 2%), insurance and financial services (6.4% vs 7.4%), and miscellaneous goods and services (1.6% vs 2.5%). On a monthly basis, consumer prices increased by 0.8% in April, following a 0.5% gain in the previous two months.
2026-05-12
Serbia Inflation Rate at 4-Month High
The annual inflation rate in Serbia rose 2.8% in March 2026 from 2.5% in the previous month, slightly below market expectations of 2.9%. This marked the largest growth in four months as deflation in food and non-alcoholic beverages eased (-1.2% vs -2.3% in February). At the same time, costs increased for alcoholic beverages and tobacco (5.9% vs 4.3%), health (7.3% vs 6.3%), information and communication (1.3% vs 1.1%), and recreation and culture (8.6% vs 8.5%). Prices also recovered for transportation (2.7% vs -0.2%) and declined less for furnishings and household equipment (-0.1% vs -0.3%). Meanwhile, price growth eased for insurance and financial services (7.4% vs 7.6%), education (2% vs 2.2%), clothing and footwear (1.4% vs 1.5%), and housing utilities (8.9% vs 9.1%). On a monthly basis, consumer prices stood at 0.5% in March, unchanged from the preceding period.
2026-04-14