Serbian town in the winter

Serbia Inflation July 2023

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

Inflation came in at 12.5% in July, down from June’s 13.7%. July’s result marked the weakest inflation rate since June 2022. The decline was broad-based, with lower price pressures recorded for food and housing and utilities. Moreover, prices for transportation fell at a steeper pace.

Annual average inflation remained at June’s 14.7% in July. Meanwhile, harmonized inflation fell to 12.4% in July, from June’s 13.5%.

Lastly, consumer prices dropped 0.04% in July over the previous month, contrasting the 0.72% rise recorded in June. July’s result marked the sharpest fall in prices since September 2020.

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