Serbian town in the winter

Serbia Inflation May 2023

Serbia: Inflation drops to lowest level since September 2022 in May

Inflation fell to 14.8% in May below April’s 15.2%. May’s figure represented the lowest inflation rate since September 2022. The deceleration was driven by softer price pressures for transportation, health products and services, and communication. That said, prices for food, and housing and utilities rose at a quicker pace.

Despite the downtick, annual average inflation rose to 14.6% in May (April: 14.3%). Meanwhile, harmonized inflation fell to 14.5% in May, from April’s 14.8%.

Lastly, consumer prices rose 0.88% in May over the previous month, picking up from April’s 0.66% increase.

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