Inflation Serbia 2024
Average inflation: 4.7%
Current Inflation
Inflation is high at 4.7%, well above the ECB target.
Peak and Trough
The highest inflation was in January at 6.5%. The lowest inflation was in June at 3.8%.
- Highest month
- January: 6.5%
- Lowest month
- June: 3.8%
- Difference
- 2.7 percentage points
- Months with data
- 12 of 12
Category Insights
The highest price increase was in Energy with an average of 6.2%. The lowest price increase was in Food with an average of 3.3%.
- Highest increase
- Energy: 6.2%
- Lowest increase
- Food: 3.3%
Historical Context
Current inflation is 2.3% lower than the 5-year average of 7.0%.
- 5-year average
- 7%
- 10-year average
- 4.4%
- All-time high (2023)
- 12.5%
- All-time low (2016)
- 1.1%
Trend
Inflation shows a downward trend. Compared to 2023, inflation has fallen by +7.8 percentage point.
- Change vs. previous year
- -7.8 percentage points
- Largest monthly swing
- March: -11.2 percentage points
ECB Target
Inflation is 2.7% above the ECB target of 2.0%. This means purchasing power is declining faster than intended.
Purchasing Power
At this inflation rate, purchasing power noticeably decreases. Without a salary increase, you can buy less with the same money.
What you could buy for €100 this year will cost approximately €104.70 next year at this inflation rate.
Multi-year trend
Monthly figures 2024
Inflation by category
Inflation differs per product group. Click on a category for the historical trend.
Month overview
| Month | Inflation | Difference vs. 2023 |
|---|---|---|
| January | 6.5% | -9.3 |
| February | 5.6% | -10.5 |
| March | 5.0% | -11.2 |
| April | 5.0% | -10.2 |
| May | 4.5% | -10.3 |
| June | 3.8% | -9.9 |
| July | 4.3% | -8.2 |
| August | 4.3% | -7.2 |
| September | 4.2% | -6.0 |
| October | 4.5% | -4.0 |
| November | 4.3% | -3.7 |
| December | 4.3% | -3.3 |
| Average | 4.7% |
Data source
Data from WorldBank. Last updated: 06/01/2026.