The annual inflation rate in Serbia edged up to 2.5% in February 2026, from 2.4% in January, which had marked the lowest reading since March 2021, as the Statistical Office of the Republic of Serbia introduced changes to the CPI methodology, including the adoption of the COICOP classification. Consumer prices continued to decline for food and non-alcoholic beverages (-2.3% vs. -1.0% in January), while prices for transport also fell (-0.2% vs. -0.4%). Meanwhile, inflation eased for alcoholic beverages, tobacco, and narcotics (4.3% vs. 6.3%) and remained unchanged for communication (1.1% vs. 1.1%). On the other hand, price pressures strengthened for health (6.3% vs. 5.7%) and housing and utilities (9.1% vs. 8.5%). On a monthly basis, the CPI rose by 0.5% in February. source: Statistical Office of the Republic of Serbia

Inflation Rate in Serbia increased to 2.50 percent in February from 2.40 percent in January of 2026. Inflation Rate in Serbia averaged 5.72 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 March of 2026.

Inflation Rate in Serbia increased to 2.50 percent in February from 2.40 percent in January 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 3.00 percent in 2028, according to our econometric models.



Calendar GMT Reference Actual Previous Consensus TEForecast
2026-02-19 11:00 AM
Inflation Rate YoY
Jan 2.4% 2.7% 2.7% 2.7%
2026-03-12 11:00 AM
Inflation Rate YoY
Feb 2.5% 2.4% 2.4%
2026-04-14 10:00 AM
Inflation Rate YoY
Mar 2.5% 3.3%


Related Last Previous Unit Reference
CPI 101.30 100.80 points Feb 2026
CPI Housing Utilities 107.00 106.30 points Feb 2026
CPI Transportation 100.80 99.90 points Feb 2026
Food Inflation -0.70 -1.02 percent Feb 2026
Inflation Rate YoY 2.50 2.40 percent Feb 2026
Inflation Rate MoM 0.50 0.30 percent Feb 2026
PPI YoY 0.20 -0.30 percent Feb 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
2.50 2.40 16.20 0.10 2007 - 2026 percent Monthly
2006=100

News Stream
Serbia Inflation Rate Edges Up in February
The annual inflation rate in Serbia edged up to 2.5% in February 2026, from 2.4% in January, which had marked the lowest reading since March 2021, as the Statistical Office of the Republic of Serbia introduced changes to the CPI methodology, including the adoption of the COICOP classification. Consumer prices continued to decline for food and non-alcoholic beverages (-2.3% vs. -1.0% in January), while prices for transport also fell (-0.2% vs. -0.4%). Meanwhile, inflation eased for alcoholic beverages, tobacco, and narcotics (4.3% vs. 6.3%) and remained unchanged for communication (1.1% vs. 1.1%). On the other hand, price pressures strengthened for health (6.3% vs. 5.7%) and housing and utilities (9.1% vs. 8.5%). On a monthly basis, the CPI rose by 0.5% in February.
2026-03-12
Serbia Inflation Rate Hits Near 5-Year Low
The annual inflation rate in Serbia slowed to 2.4% in January 2026, compared to market expectations and the prior month's 2.7%. This marked the lowest reading since March 2021, with the Statistical Office of the Republic of Serbia starting to use the new International Classification of Individual Consumption by Purpose (COICOP) version 2 (COICOP2018) in the calculation of the Consumer Price Index (CPI) and the internationally comparable Harmonized Index of Consumer Prices (HICP). Consumer deflation continued for food and non-alcoholic beverages (-1% vs -0.9% in December), and prices slipped for transport (-0.4% vs 1.9%). Moreover, costs moderated for information and communication (1.1% vs 2.3%), health (5.7% vs 5.9%), and alcoholic beverages, tobacco, and narcotics (6.3% vs 6.4%). In contrast, prices increased at a faster pace for housing and utilities (8.5% vs 7.5%). On a monthly basis, consumer prices edged up to 0.3% from 0.1% in December 2025, matching market expectations.
2026-02-19
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