Serbia’s producer inflation inched up to 10.6% year-on-year in October 2026, from 10.5% in September, equaling its highest level since January 2023 and marking the third straight month of acceleration. Price growth picked up sharply in mining and quarrying (30.8% vs. 24.1%) and in manufacturing (13% vs. 12%). By contrast, inflation decelerated markedly in electricity, gas, steam and air conditioning supply (0.4% vs. 3.8%) and eased slightly in water supply, sewerage, waste management and remediation activities (5.5% vs. 5.8%). On a monthly basis, producer prices rose 0.6%, down from a 1.6% increase in the previous month.