FX.co ★ Serbia’s Annual Inflation Edges Up to 4.4% in October, Ending Recent Cooling Trend

Serbia’s consumer price inflation ticked higher in October 2026, with the year-over-year CPI reading rising to 4.40%, up from 4.10% in September 2026. The latest data, updated on 12 November 2026, indicate a modest re-acceleration in price growth after a previous month of relative stabilization.

The figures are based on a year-over-year comparison, meaning October’s 4.40% reflects the change in consumer prices versus October a year earlier, while September’s 4.10% reflected the change versus September of the previous year. This shift suggests that inflationary pressures, while still contained compared with earlier high-inflation periods, have not fully eased and continue to pose a consideration for policymakers and market participants monitoring Serbia’s price dynamics.