Serbia: Inflation rises to over one-year high in July
Latest reading: Inflation edged up to 4.9% in July, slightly above June’s 4.6%. July’s reading represented the highest inflation rate since April 2024, and marked the second successive month of inflation above the 1.5–4.5% Central Bank tolerance band. Looking at the details of the release, the increase was chiefly driven by a faster rise in prices for food and non-alcoholic beverages. Moreover, price pressures for housing and utilities intensified.
Annual average inflation rose to 4.4% in July (June: 4.3%). Meanwhile, core inflation was unchanged, coming in at June’s 4.7% in July.
Lastly, consumer prices rose 0.66% from the previous month in July, which was below June’s 0.88% rise.