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Serbia Inflation August 2023

Serbia: Inflation falls to over one-year low in August

Inflation came in at 11.5% in August, down from July’s 12.5%. August’s reading represented the lowest inflation rate since May 2022. Looking at the details of the release, prices for food and non-alcoholic beverages and for housing and utilities rose at a weaker pace in August. However, prices for transportation rebounded.

Annual average inflation edged down to 14.5% in August (July: 14.7%). Meanwhile, harmonized inflation fell to 11.5% in August, from July’s 12.4%.

Lastly, consumer prices increased 0.34% over the previous month in August, swinging from the 0.04% fall seen in July.

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