The annual inflation rate in Serbia edged down to 2.7% in December 2025 from 2.8% in the previous month. This marked the lowest reading since March 2021, mainly driven by ongoing deflation for food and non-alcoholic beverages, which dropped further by 0.9%, after a 0.7% fall in November. Additionally, inflation softened for clothing and footwear (2.2% vs 2.9%), furnishings, household equipment and maintenance (0.3% vs 0.7%), and transport (1.9% vs 2.6%). On the other hand, prices increased at a faster rate for alcoholic beverages, tobacco and narcotics (6.4% vs 4.9%) and recreational and cultural services (2.7% vs 2.4%). On a monthly basis, consumer prices rose modestly by 0.1% in December, following a 0.2% gain in the preceding period. source: Statistical Office of the Republic of Serbia

Inflation Rate in Serbia decreased to 2.70 percent in December from 2.80 percent in November of 2025. Inflation Rate in Serbia averaged 5.75 percent from 2007 until 2025, 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 February of 2026.

Inflation Rate in Serbia decreased to 2.70 percent in December from 2.80 percent in November of 2025. 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 3.00 percent in 2028, according to our econometric models.



Calendar GMT Reference Actual Previous Consensus TEForecast
2025-12-12 11:00 AM
Inflation Rate YoY
Nov 2.8% 2.8% 2.7%
2026-01-12 11:00 AM
Inflation Rate YoY
Dec 2.7% 2.8% 2.8%
2026-02-19 11:00 AM
Inflation Rate YoY
Jan 2.7% 3.0%


Related Last Previous Unit Reference
CPI 288.00 287.70 points Dec 2025
CPI Housing Utilities 347.90 346.70 points Dec 2025
CPI Transportation 219.70 220.30 points Dec 2025
Food Inflation -0.90 -0.70 percent Dec 2025
Inflation Rate YoY 2.70 2.80 percent Dec 2025
Inflation Rate MoM 0.10 0.20 percent Dec 2025
PPI YoY 1.70 2.10 percent Dec 2025


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
2.70 2.80 16.20 0.10 2007 - 2025 percent Monthly
2006=100

News Stream
Serbia Inflation Rate Lowest Since 2021
The annual inflation rate in Serbia edged down to 2.7% in December 2025 from 2.8% in the previous month. This marked the lowest reading since March 2021, mainly driven by ongoing deflation for food and non-alcoholic beverages, which dropped further by 0.9%, after a 0.7% fall in November. Additionally, inflation softened for clothing and footwear (2.2% vs 2.9%), furnishings, household equipment and maintenance (0.3% vs 0.7%), and transport (1.9% vs 2.6%). On the other hand, prices increased at a faster rate for alcoholic beverages, tobacco and narcotics (6.4% vs 4.9%) and recreational and cultural services (2.7% vs 2.4%). On a monthly basis, consumer prices rose modestly by 0.1% in December, following a 0.2% gain in the preceding period.
2026-01-12
Serbia Inflation Rate Steady in November
The annual inflation rate in Serbia stood at 2.8% in November 2025, unchanged from the previous month. It remained the lowest reading since April 2021, as prices declined for food and non-alcoholic beverages (-0.7% vs 0.3% in October) and slowed for clothing and footwear (2.9% vs 3.2%), furnishings, household equipment and routine household maintenance (0.7% vs 1.3%), and miscellaneous goods and services (4.3% vs 4.5%). Meanwhile, costs increased at a faster pace for housing and utilities (7.5% vs 7.2%), transport (2.6% vs 1.7%), alcoholic beverages and narcotics (4.9% vs 4.8%), health (5.6% vs 4.8%), communication (2.3% vs 1.4%), recreation and culture (4.5% vs 3.7%), and restaurants and hotels (6.9% vs 6.8%). On a monthly basis, consumer prices eased to 0.2% from 0.5% in October.
2025-12-12
Serbia Inflation Rate Lowest Since 2021
The annual inflation rate in Serbia edged down to 2.8% in October 2025 from 2.9% in the previous month. It marked the lowest reading since April 2021, as prices increased at a softer pace for food and non-alcoholic beverages (0.3% vs 1.7% in September), transport (1.7% vs 2.2%), clothing and footwear (3.2% vs 3.9%), furnishings, household equipment, and routine household maintenance (1.3% vs 2.7%), health (4.8% vs 5.2%), and education (0.8% vs 4.0%). On the other hand, costs accelerated for housing and utilities (7.2% vs 3.2%), communication (1.4% vs 1.3%), recreation and culture (3.7% vs 3.4%), restaurants and hotels (6.8% vs 6.6%), and miscellaneous goods and services (4.5% vs 4.2%). On a monthly basis, consumer prices rose to a three-month high of 0.5%, rebounding from a 1.6% fall in September.
2025-11-12