FX.co ★ Serbia’s Consumer Prices Slip in July, Marking First Monthly Decline of 2026

Serbia’s consumer price index (CPI) fell by 0.20% month-on-month in July 2026, reversing the 0.20% increase recorded in June, according to data updated on 12 August 2026. The move into negative territory marks a notable shift in short-term price dynamics after a period of modest monthly gains.

The July reading, measured on a month-over-month basis, indicates that overall consumer prices were lower than in June, when inflation had ticked up slightly. The comparison framework shows that while June 2026 prices rose compared with May, July brought a decline compared with June, suggesting a cooling in immediate price pressures within the Serbian economy.