2026.08.0510:12:27UTC+00Serbia Producer Inflation Cools Further in July

Serbia’s producer prices rose 6.2% year-on-year in July 2026, slowing from a 7% increase in June and marking a second consecutive month of moderation. The deceleration was mainly driven by weaker inflation in energy (12% vs 14.9%) and intermediate goods (4.6% vs 5%), while prices of durable consumer goods moved back into positive territory (0.8% vs -5.5%).

By contrast, price growth for capital goods picked up (5% vs 4.1%), and inflation for non-durable consumer goods was unchanged at 1.6%.

Across sectors, producer price inflation eased in manufacturing (6.8% vs 7.9%). Meanwhile, it accelerated in electricity, gas, steam and air conditioning supply (5.8% vs 4.4%) and inched up in mining and quarrying (8.5% vs 8.4%), while remaining stable in water supply, sewerage, waste management and remediation activities (3.9%).

On a monthly basis, producer prices slipped 0.2% in July, after a 0.9% decline in June.