FX.co ★ Serbia Inflation Slows to Over 4-Year Low

In September 2025, Serbia's annual inflation rate eased to 2.9% from 4.7% in the previous month, coming in substantially lower than the market expectations of 4.65%. This figure represents the lowest point since April 2021, primarily due to reduced price increases in several categories: food and non-alcoholic beverages saw a rise of just 1.7% compared to 7.8% in August, furnishings, household equipment, and maintenance increased by 2.7% versus 4.6%, and the restaurant and hotel sector experienced a 6.6% increase down from 7.5%. Additionally, costs for recreation and culture softened to 3.4% from 3.7%, and education costs decreased to 4% from 4.3%. Conversely, there was an acceleration in inflation for housing and utilities, which climbed to 3.2% from 3%, and transport, which rose to 2.2% from 0.1%. On a monthly scale, consumer prices fell by 1.6% in September, marking the first decline in over two years and contrasting with the 0.2% increase observed in the previous period.