Serbia’s annual inflation rate climbed to 4.4% in October 2026, up from 4.1% in September, marking its highest level since August 2025 and the third consecutive monthly increase. Price growth strengthened across most major categories. Food prices rebounded, rising 1.2% after a 1.3% decline in the previous month. Inflation also accelerated in transportation (10.9% vs. 10.1%), furnishings and household equipment (3% vs. 2.9%), information and communication (2.3% vs. 2.2%), clothing and footwear (3.1% vs. 1.8%), and education (2.1% vs. 1.2%).
By contrast, inflation moderated in several sectors, including housing and utilities (5.2% vs. 9.7%), restaurants and hotels (5.4% vs. 5.6%), insurance and financial services (3% vs. 3.5%), alcoholic beverages and tobacco (6.4% vs. 6.6%), health (7.4% vs. 7.7%), and recreation and culture (8.7% vs. 9.1%). On a monthly basis, consumer prices rose 0.8% in October, after a 0.2% increase in September.
