Latest reading: Consumer prices were flat year on year in June, contrasting May’s 0.1% year-on-year decline and market expectations for...
Inflation in Serbia
Consumer price inflation in Serbia averaged 4.2% in the ten years to 2024, in line with the South-Eastern Europe regional average of 15.2%. The 2024 average figure was 4.7%. For more information on inflation, visit our dedicated page.
Serbia Inflation Chart
Note: This chart displays Inflation Rate (CPI, annual variation in %) for Serbia from 2014 to 2024.
Source: Macrobond.
Serbia Inflation Data
| 2020 | 2021 | 2022 | 2023 | 2024 | |
|---|---|---|---|---|---|
| Inflation (CPI, ann. var. %, aop) | 1.6 | 4.1 | 12.0 | 12.4 | 4.7 |
| Inflation (CPI, ann. var. %, eop) | 1.3 | 7.9 | 15.1 | 7.6 | 4.3 |
| Inflation (Core, ann. var. %, aop) | 1.6 | 2.2 | 7.1 | 9.3 | 5.2 |
Inflation drops to lowest level since July 2021 in May
Latest reading: Inflation came in at 3.8% in May, down from April’s 4.0%. May's reading represented the lowest inflation rate since July 2021. Looking at the details of the release, prices for housing plus hospitality rose at a slower pace. Moreover, transportation prices fell at a faster clip. That said, price pressures for food and non-alcoholic beverages intensified in May. Annual average inflation ticked down to 4.2% in May (April: 4.3%). Meanwhile, core inflation fell to 4.6% in May from April’s 5.0%. Lastly, consumer prices rose 0.21% in May over the previous month, coming in below April's 0.32% increase.
Consensus Forecasts and Projections for the next ten years
How should you choose a forecaster if some are too optimistic while others are too pessimistic? FocusEconomics collects Serbian inflation projections for the next ten years from a panel of 23 analysts at the leading national, regional and global forecast institutions. These projections are then validated by our in-house team of economists and data analysts and averaged to provide one Consensus Forecast you can rely on for each indicator. By averaging all forecasts, upside and downside forecasting errors tend to cancel each other out, leading to the most reliable inflation forecast available for Serbian inflation.
Download one of our sample reports to visualize what a Consensus Forecast is and see our Serbian inflation projections.
Want to get access to the full dataset of Serbian inflation forecasts? Send an email to info@focus-economics.com.
Latest Global Inflation News
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Switzerland: Consumer prices are unchanged in June -
Peru: Inflation remains muted in June Latest reading: Inflation came in at 1.7% in June, matching May’s result and in line with the Central Bank’s 1.0–3.0%... -
Kazakhstan: Inflation increases to a near two-year high in June Latest reading: Inflation rose to 11.8% in June, above May’s 11.3%, marking the highest inflation rate since August 2023, and... -
Kenya: Inflation flatlines below midpoint of the target range in June Latest reading: Inflation was stable at May’s 3.8% in June, remaining below the midpoint of the Central Bank’s 2.5–7.5% target... -
Australia: Inflation nears target floor in May Latest reading: Inflation dropped to 2.1% in May after having stood at 2.4% for a third consecutive month in April.... -
Hong Kong: Inflation moderates in May Latest reading: Inflation fell to 1.9% in May from April’s 2.0%, due to weaker price pressures for food, transport and... -
Canada: Inflation remains on target in May Latest reading: Inflation came in at 1.7% in May, matching April’s reading and market expectations, and comfortably within the Central...