Serbia's annual inflation rate rose to 4.4% in October 2026 from 4.1% in September, reaching its highest level since August 2025 and accelerating for a third consecutive month. Price growth accelerated across most categories. Food prices rebounded, rising 1.2% after falling 1.3%, while inflation picked up for transportation (10.9% vs 10.1%), furnishings and household equipment (3% vs 2.9%), information and communication (2.3% vs 2.2%), clothing and footwear (3.1% vs 1.8%) and education (2.1% vs 1.2%). On the other hand, inflation eased for housing and utilities (5.2% vs 9.7%), restaurants and hotels (5.4% vs 5.6%), insurance and financial services (3% vs 3.5%), alcoholic beverages and tobacco (6.4% vs 6.6%), health (7.4% vs 7.7%) and recreation and culture (8.7% vs 9.1%). From the previous month, consumer prices rose 0.8%, up from 0.2% in September. source: Statistical Office of the Republic of Serbia

Inflation Rate in Serbia increased to 4.40 percent in October from 4.10 percent in September of 2026. Inflation Rate in Serbia averaged 5.64 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 November of 2026.

Inflation Rate in Serbia increased to 4.40 percent in October from 4.10 percent in September of 2026. Inflation Rate in Serbia is expected to be 3.80 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 2.10 percent in 2027 and 2.00 percent in 2028, according to our econometric models.



Calendar GMT Reference Actual Previous Consensus TEForecast
2026-10-12 10:00 AM
Inflation Rate YoY
Sep 4.1% 2.2% 4.0%
2026-11-12 11:00 AM
Inflation Rate YoY
Oct 4.4% 4.1% 3.9%
2026-12-11 11:00 AM
Inflation Rate YoY
Nov 4.4%


Related Last Previous Unit Reference
CPI 104.60 103.80 points Oct 2026
CPI Housing Utilities 109.30 109.10 points Oct 2026
CPI Transportation 110.80 110.20 points Oct 2026
Food Inflation 1.20 -1.30 percent Oct 2026
Inflation Rate YoY 4.40 4.10 percent Oct 2026
Inflation Rate MoM 0.80 0.20 percent Oct 2026
PPI YoY 10.60 10.50 percent Oct 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
4.40 4.10 16.20 0.10 2007 - 2026 percent Monthly
2006=100

News Stream
Serbia Inflation Rate Rises Further in October
Serbia's annual inflation rate rose to 4.4% in October 2026 from 4.1% in September, reaching its highest level since August 2025 and accelerating for a third consecutive month. Price growth accelerated across most categories. Food prices rebounded, rising 1.2% after falling 1.3%, while inflation picked up for transportation (10.9% vs 10.1%), furnishings and household equipment (3% vs 2.9%), information and communication (2.3% vs 2.2%), clothing and footwear (3.1% vs 1.8%) and education (2.1% vs 1.2%). On the other hand, inflation eased for housing and utilities (5.2% vs 9.7%), restaurants and hotels (5.4% vs 5.6%), insurance and financial services (3% vs 3.5%), alcoholic beverages and tobacco (6.4% vs 6.6%), health (7.4% vs 7.7%) and recreation and culture (8.7% vs 9.1%). From the previous month, consumer prices rose 0.8%, up from 0.2% in September.
2026-11-12
Serbia Inflation Jumps to 13-Month High
The inflation rate in Serbia rose by 4.1% year-on-year in September 2026 from 2.2% in the previous month. The latest reading marked the highest reading since August 2025, as costs increased for transportation (10.1% vs 9.3% in August), furnishings and household equipment (2.9% vs 1.4%), information and communication (2.2% vs 2.1%), and miscellaneous goods and services (2.5% vs 1.1%). Moreover, price growth remained steady for clothing and footwear (at 1.8%), education (at 1.2%), restaurants and hotels (at 5.6%), and insurance and financial services (at 3.5%), while deflation slowed for food and non-alcoholic beverages (-1.3% vs -6.3%). On the other hand, prices decreased for alcoholic beverages and tobacco (6.6% vs 6.9%), housing utilities (9.7% vs 9.9%), health (7.7% vs 7.8%), and recreation and culture (9.1% vs 9.6%). On a monthly basis, consumer prices grew by 0.2% in August, easing from a four-month high of 0.5% in the preceding period.
2026-10-12
Serbia Inflation Rate Rises to 2.2% in August
The inflation rate in Serbia rose by 2.2% year-on-year in August 2026 from a five-year low of 1.9% in the previous month. Costs increased in alcoholic beverages and tobacco (6.9% vs 6.5% in July), clothing and footwear (1.8% vs 1.2%), housing and utilities (9.9% vs 9.7%), furnishing and household equipment (1.4% vs 0.6%), transportation (9.3% vs 7.1%), information and communication (2.1% vs 1.9%), and miscellaneous goods and services (1.1% vs 0.7%). Moreover, price growth remained unchanged for education (at 1.2%). In contrast, inflation grew at a softer pace for restaurants and hotels (5.6% vs 6.1%), insurance and financial services (3.5% vs 3.9%), recreation and culture (9.6% vs 10.0%), and health (7.8% vs 7.9%), while prices declined further for food and non-alcoholic beverages (-6.3% vs -6.1%). On a monthly basis, consumer prices increased by 0.5% in August, rebounding from a 0.2% fall in the preceding period.
2026-09-11