Year-on-year inflation slowed to 1.9% in July, driven primarily by lower fruit and vegetable prices due to an exceptionally good new harvest, according to data from the Statistical Office of the Republic of Serbia, published today by the National Bank of Serbia (NBS).
On a monthly basis, as stated in the release, consumer prices fell by an average of 0.2% in July, driven mainly by lower prices of unprocessed food, particularly fresh vegetables (-15.1%) and fresh fruit (-6.7%).
In July, prices of processed food increased by 0.4% compared with June, driven by higher prices of wheat-based products and non-alcoholic beverages.
Prices in both subcategories of food inflation (unprocessed and processed food) were on average 6.1% lower than in July last year, with the decline in unprocessed food prices amounting to 12.9%, while processed food prices fell by 2.5%.
Energy prices increased by 0.3% on a monthly basis, while the year-on-year increase stood at 9.3%.
The increase in energy prices was primarily driven by higher prices of petroleum products, which rose by 0.6% in July (on a year-on-year basis, petroleum product prices were 11.4% higher).
As stated in the release, the 0.6% monthly increase in core inflation, which excludes food, energy, alcohol and cigarette prices, was driven primarily by a seasonal increase in the prices of tourist package holidays.
The neutral contribution of prices of products included in core inflation was influenced, on the one hand, by higher prices of household cleaning products and, on the other, by a seasonal decrease in clothing and footwear prices.
On a year-on-year basis, core inflation continued to remain relatively stable, standing at 4.5% in July, according to the NBS release.
Source: Telegraf, 13.08.2026