The annual inflation rate in Serbia accelerated to 3.5% in May 2026, up from 3.3% in April, marking the fastest pace since August 2025. The increase was driven mainly by higher costs for housing and utilities (9.5% vs 9.2% in April), health (7.6% vs 7.5%), transportation (8.4% vs 6.3%), information and communication (1.6% vs 1.3%), and miscellaneous goods and services (2% vs 1.6%). At the same time, prices in furnishings and household equipment returned to growth (0.2% vs -0.3%), while inflation remained unchanged in recreation and culture (8.7%), education (1.9%), and clothing and footwear (1.5%).
By contrast, price growth eased in insurance and financial services (5.5% vs 6.4%), restaurants and hotels (6.4% vs 6.6%), and alcoholic beverages and tobacco (4.9% vs 6.1%), while costs for food and non-alcoholic beverages fell at a faster rate (-1.5% vs -1.1%). On a monthly basis, consumer prices rose 0.3% in May, slowing from a 0.8% increase in the previous month.
