The annual inflation rate in Serbia rose to 16.1% in February of 2023, extending the record high of 15.8% from the previous month and well above expectations of 15.6%, despite the 475bps in interest rate hikes through 12 consecutive months. Consumer prices continued to accelerate for food and non-alcoholic beverages (24.6% vs 23.7% in January) and housing and utilities (24% vs 23%), as inflation for energy and rent weighed on consumer costs. On the other hand, price growth eased for transportation (6.6% vs 7.5%). On a monthly basis, Serbian consumer prices jumped by 1.4% in February. source: Statistical Office of the Republic of Serbia

Inflation Rate in Serbia averaged 5.62 percent from 2007 until 2023, reaching an all time high of 16.10 percent in February of 2023 and a record low of 0.10 percent in January of 2015. This page provides - Serbia Inflation Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Serbia Inflation Rate - data, historical chart, forecasts and calendar of releases - was last updated on March of 2023.

Inflation Rate in Serbia is expected to be 15.60 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations.

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Serbia Inflation Rate



Calendar GMT Actual Previous Consensus TEForecast
2023-02-20 11:00 AM Jan 15.8% 15.1% 15.1% 15.0%
2023-03-13 11:00 AM Feb 16.1% 15.8% 15.55% 15.6%
2023-04-12 10:00 AM Mar 15.6%


Related Last Previous Unit Reference
Inflation Rate 16.10 15.80 percent Feb 2023
Consumer Price Index CPI 256.70 253.20 points Feb 2023
Producer Prices Change 9.40 10.60 percent Feb 2023
Inflation Rate MoM 1.40 1.40 percent Feb 2023
Food Inflation 24.60 23.70 percent Feb 2023
CPI Transportation 208.60 206.90 points Feb 2023
CPI Housing Utilities 292.90 290.10 points Feb 2023

Serbia Inflation Rate
In Serbia, the most important category in the Consumer Price Index is Food & Non-Alcoholic Beverages (31% of the total weight). Housing & Utilities accounts for 14%; Transport for 12%; Alcoholic Beverages, Tobacco & Narcotics for 7%; Communications for 6% and Recreation & Culture for 6%. The index also includes: Health (5%), Miscellaneous Goods & Services (5%), Furniture, Household Goods & Maintenance (4%), Clothing & Footwear (4%), Restaurants & Hotels (3%), and Education (2%).
Actual Previous Highest Lowest Dates Unit Frequency
16.10 15.80 16.10 0.10 2007 - 2023 percent Monthly
2006=100

News Stream
Serbia Inflation Rises to Another Record High
The annual inflation rate in Serbia rose to 16.1% in February of 2023, extending the record high of 15.8% from the previous month and well above expectations of 15.6%, despite the 475bps in interest rate hikes through 12 consecutive months. Consumer prices continued to accelerate for food and non-alcoholic beverages (24.6% vs 23.7% in January) and housing and utilities (24% vs 23%), as inflation for energy and rent weighed on consumer costs. On the other hand, price growth eased for transportation (6.6% vs 7.5%). On a monthly basis, Serbian consumer prices jumped by 1.4% in February.
2023-03-13
Serbian Inflation Unexpectedly Extends Record
The annual inflation rate in Serbia rose to 15.8 percent in January of 2023 after holding at 15.1 percent in the prior month, jumping to its highest on record and surprising market expectations of 15.1 percent. Consumer costs accelerated for housing and utilities (23 percent vs 19.3 percent), largely due to a sharp increase in the price of electricity (26 percent vs 20.7 percent), and food and non-alcoholic beverages (23.7 percent vs 23.4 percent). On the other hand, inflation eased for transportation (7.5 percent vs 9.2 percent). On a monthly basis, Serbian consumer prices jumped by 1.4 percent from the 0.5 percent increase in the previous month.
2023-02-20
Serbian Inflation Extends Record-High
The annual inflation rate in Serbia rose slightly to 15.1 percent in November of 2022 from 15 percent in the previous month, the highest on record, but below expectations of 15.3 percent. Consumer costs accelerated for housing and utilities (18.4 percent vs 17.9 percent in October) and recreation and culture (8.2 percent vs 7.7 percent), while inflation slowed for food and non-alcoholic beverages (22.5 percent vs 22.9 percent) and transportation (12.9 percent vs 13.2 percent). On a monthly basis, consumer prices rose by 1 percent, easing from the 10-year high increase of 1.9 percent in the previous month.
2022-12-12