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. source: Statistical Office of the Republic of Serbia

Inflation Rate in Serbia increased to 2.80 percent in March from 2.50 percent in February of 2026. Inflation Rate in Serbia averaged 5.71 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 April of 2026.

Inflation Rate in Serbia increased to 2.80 percent in March from 2.50 percent in February of 2026. Inflation Rate in Serbia is expected to be 3.70 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
2026-03-12 11:00 AM
Inflation Rate YoY
Feb 2.5% 2.4% 2.4%
2026-04-14 10:00 AM
Inflation Rate YoY
Mar 2.8% 2.5% 2.9% 2.9%
2026-05-12 10:00 AM
Inflation Rate YoY
Apr 2.8%


Related Last Previous Unit Reference
CPI 101.80 101.30 points Mar 2026
CPI Housing Utilities 107.10 107.00 points Mar 2026
CPI Transportation 103.00 100.80 points Mar 2026
Food Inflation -1.20 -0.70 percent Mar 2026
Inflation Rate YoY 2.80 2.50 percent Mar 2026
Inflation Rate MoM 0.50 0.50 percent Mar 2026
PPI YoY 5.30 0.20 percent Mar 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
2.80 2.50 16.20 0.10 2007 - 2026 percent Monthly
2006=100

News Stream
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
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