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.

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.

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.