Serbia’s producer prices jumped 8.4% year-on-year in May 2026, following a 7.8% rise in the previous month, remaining at its highest level since February 2023. Costs increased in manufacturing (9.4% vs 8.5% in April), particularly in the manufacture of food (0.2% vs 0.1%), beverages (4.2% vs 3.8%), coke and oil derivatives (59.1% vs 56.2%), chemical and chemical products (17% vs 16.1%), and base metals (11.3% vs 7.1%). At the same time, price growth remained steady for both electricity, gas, steam, and air-conditioning supply (at 3.9%) and water supply, sewerage, waste management, and remediation activities (at 4.4%). On a monthly basis, producer prices rose by 0.1% in April, easing from a 2.1% increase in the preceding period.