Serbia’s annual inflation rate accelerated to 3.3% in April 2026, up from 2.8% in March and above market expectations of 3.1%. This was the fastest pace of inflation in eight months, reflecting a slight easing in deflation for food and non-alcoholic beverages (-1.1% vs -1.2% in March).
Price pressures strengthened across several categories, with notable increases in alcoholic beverages and tobacco (6.1% vs 5.9%), clothing and footwear (1.5% vs 1.4%), housing and utilities (9.2% vs 8.9%), health (7.5% vs 7.3%), transport (6.3% vs 2.7%), recreation and culture (8.7% vs 8.6%), and restaurants and hotels (6.6% vs 6.3%).
By contrast, inflation slowed in education (1.9% vs 2%), insurance and financial services (6.4% vs 7.4%), and miscellaneous goods and services (1.6% vs 2.5%).
On a monthly basis, consumer prices rose 0.8% in April, following two consecutive months of 0.5% gains.
