FX.co ★ Serbia Inflation Eases to 4-Month Low

Serbia’s annual inflation rate slowed to 2.7% in June 2026, down from 3.5% in May and well below market expectations of 3.6%. This was the lowest rate since February, driven largely by a deeper decline in prices for food and non-alcoholic beverages (-3.7% vs -1.5% in May).

Price growth also eased in several categories, including transport (7.7% vs 8.4%), clothing and footwear (1.4% vs 1.5%), restaurants and accommodation services (6.2% vs 6.4%), and education (1.8% vs 1.9%).

By contrast, inflation picked up for alcoholic beverages and tobacco (5.2% vs 4.9%), furnishings, household equipment and routine household maintenance (0.8% vs 0.2%), and recreation, sport and culture (9.7% vs 8.7%). It remained unchanged for housing and utilities (9.5%), health (7.6%), and information and communication (1.6%).

On a monthly basis, consumer prices rose 0.2% in June, down from 0.3% in May, marking the smallest monthly increase since December 2025.