FX.co ★ Serbia Inflation Jumps to 13-Month High

Serbia’s annual inflation rate accelerated to 4.1% in September 2026, up from 2.2% in August, reaching its highest level since August 2025. The increase was driven mainly by higher costs for transportation (10.1% vs. 9.3% in August), furnishings and household equipment (2.9% vs. 1.4%), information and communication (2.2% vs. 2.1%), and miscellaneous goods and services (2.5% vs. 1.1%).

Price growth remained unchanged for clothing and footwear (1.8%), education (1.2%), restaurants and hotels (5.6%), and insurance and financial services (3.5%). At the same time, deflation in food and non-alcoholic beverages eased markedly (-1.3% vs. -6.3%).

Conversely, price increases moderated for alcoholic beverages and tobacco (6.6% vs. 6.9%), housing utilities (9.7% vs. 9.9%), health (7.7% vs. 7.8%), and recreation and culture (9.1% vs. 9.6%).

On a monthly basis, consumer prices rose by 0.2% in August, slowing from a four-month high of 0.5% recorded in the previous month.