Serbia’s producer prices rose by 5.3% year-on-year in March 2026, following a 0.2% growth in the previous month. This marked the highest reading since March 2023, as prices rebounded sharply in mining and quarrying (11% vs. -4.7% in February) and manufacturing (5.6% vs. -0.8%), particularly in the manufacture of coke and refined petroleum products (30.3% vs. -17.6%), chemicals and chemical products (5.4% vs. -0.9%), and beverages (4.5% vs. 2.7%). At the same time, prices remained stable for electricity, gas, steam, and air-conditioning supply at 3.9%. Meanwhile, inflation slowed in water supply, sewerage, waste management, and remediation activities (4.7% vs. 6%). On a monthly basis, producer prices increased by 4.9% in March, up from a 0.2% rise in the previous period.