Serbia Producer Inflation Rises at Fastest Pace Since 2023

2026-10-05 10:13 By Mariene Camarillo 1 min. read

Serbia’s producer prices jumped by 10.5% year-on-year in September 2026 from 9.0% in the previous month.

This marked the highest level since January 2023, driven largely by stronger inflation for energy (23.6% vs 19.3% in August), intermediate goods (5.6% vs 5.4%), capital goods (5.4% vs 5.3%), consumer durables (13.3% vs 10.1%), and non-durable consumer goods (2.2% vs 1.9%).

By sector, costs increased in the manufacturing industry (12.0% vs 10.3%), lifted by gains in wood and wood products (6.3% vs 4.6%), coke and oil derivatives (68.8% vs 56.5%), and chemical and chemical products (15.5% vs 14.8%).

Moreover, prices grew in mining and quarrying (24.1% vs 12.0%), while growth remained steady in water supply, sewerage, waste management, and remediation activities (at 5.8%).

In contrast, inflation moderated in electricity, gas, steam, and air-conditioning supply (3.8% vs 3.9%).

On a monthly basis, producer prices rose by 1.6%, easing from 1.9% in August.



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Serbia Producer Inflation Rises at Fastest Pace Since 2023
Serbia’s producer prices jumped by 10.5% year-on-year in September 2026 from 9.0% in the previous month. This marked the highest level since January 2023, driven largely by stronger inflation for energy (23.6% vs 19.3% in August), intermediate goods (5.6% vs 5.4%), capital goods (5.4% vs 5.3%), consumer durables (13.3% vs 10.1%), and non-durable consumer goods (2.2% vs 1.9%). By sector, costs increased in the manufacturing industry (12.0% vs 10.3%), lifted by gains in wood and wood products (6.3% vs 4.6%), coke and oil derivatives (68.8% vs 56.5%), and chemical and chemical products (15.5% vs 14.8%). Moreover, prices grew in mining and quarrying (24.1% vs 12.0%), while growth remained steady in water supply, sewerage, waste management, and remediation activities (at 5.8%). In contrast, inflation moderated in electricity, gas, steam, and air-conditioning supply (3.8% vs 3.9%). On a monthly basis, producer prices rose by 1.6%, easing from 1.9% in August.
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