Serbian town in the winter

Serbia Inflation May 2024

Serbia: Inflation falls to over two-year low in May

Inflation fell to 4.5% in May, following April’s 5.0%. May’s result marked the lowest inflation rate since August 2021 and hit the upper bound of the Central Bank’s 1.5–4.5% target range. The reading was driven by moderating price pressures for food and non-alcoholic beverages and for housing and utilities. Moreover, prices for restaurants and hotels grew at a more subdued pace.

In addition, the trend pointed down, with annual average inflation coming in at 8.1% in May (April: 8.9%). Meanwhile, core inflation rose to 5.0% in May, from the previous month’s 4.8%.

Lastly, consumer prices increased 0.40% from the previous month in May, slowing down from April’s 0.66% increase.

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