Serbia Inflation

Inflation picks up in May from April

Latest reading: Consumer prices were up 3.5% on a year-on-year basis in May, following a 3.3% rise in the previous month. May's reading was the strongest since August 2025. Relative to the previous month's figures, there were higher price pressures for transportation (+8.4% in annual terms vs +6.3% in April) and housing and utilities (+9.4% vs +9.1% in April). In contrast, there were milder price pressures for food and non-alcoholic beverages (-1.5% vs -1.1% in April) and restaurants and hotels (+7.4% vs +7.6% in April). Finally, the change in clothing and footwear prices was the same as in the prior month (+1.5% in May and April). Meanwhile, core consumer prices rose 4.5% in annual terms in May, following a 4.4% rise in the prior month. Lastly, consumer prices rose 0.39% in May in month-on-month terms, following a 0.79% increase in the previous month.

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