Serbia Producer Inflation Eases in June

Serbia's producer prices rose 7.0% year-on-year in June 2026, easing from a 2023-high of 8.4% in May. The slowdown was driven mainly by mining, where prices eased sharply to 8.4% from 19.5%, reflecting slower price growth in crude oil and natural gas extraction (20.4% vs. 64.6%). Manufacturing inflation moderated to 7.9% from 9.4%, with softer price growth across several industries, including food products, which declined 0.2% following a 0.2% rise, beverages (4.0% vs. 4.2%), and rubber and plastic products (2.5% vs. 2.6%). Meanwhile, producer price inflation stood at 4.4% for water supply, sewerage, waste management and remediation activities, and 3.9% for electricity, gas, steam and air-conditioning supply. On a monthly basis, producer prices fell 0.9% in June, reversing a 0.1% increase in the previous month.

Serbia’s producer prices jumped 8.4% year-on-year in May 2026, following a 7.8% rise in the previous month, remaining at its highest level since February 2023. Costs increased in manufacturing (9.4% vs 8.5% in April), particularly in the manufacture of food (0.2% vs 0.1%), beverages (4.2% vs 3.8%), coke and oil derivatives (59.1% vs 56.2%), chemical and chemical products (17% vs 16.1%), and base metals (11.3% vs 7.1%). At the same time, price growth remained steady for both electricity, gas, steam, and air-conditioning supply (at 3.9%) and water supply, sewerage, waste management, and remediation activities (at 4.4%). On a monthly basis, producer prices rose by 0.1% in May, easing from a 2.1% increase in the preceding period.

Serbia’s producer prices advanced 7.8% year-on-year in April 2026, following a 5.3% rise in the previous month. This marked the highest reading since February 2023, lifted by higher costs in manufacturing (8.5% vs 5.6% in March), particularly in the manufacture of tobacco products (10.5% vs 6.7%), garments (1.9% vs 1.8%), coke and oil derivatives (56.2% vs 30.3%), chemicals and chemical products (16.1% vs 5.4%), and base metals (7.1% vs 6.9%). At the same time, prices jumped in mining and quarrying (21.1% vs 11%), while costs remained stable for electricity, gas, steam, and air-conditioning supply at 3.9%. Meanwhile, inflation moderated for water supply, sewerage, waste management, and remediation activities (4.4% vs 4.7%). On a monthly basis, producer prices rose by 2.1% in April, easing from a 4.9% growth in the preceding period.