The annual inflation rate in Serbia eased to 2.7% in June 2026 from 3.5% in the previous month, well below market expectations of 3.6%. This marked the lowest reading since February, as deflation in food and non-alcoholic beverages deepened (-3.7% vs -1.5% in May). Price growth also moderated for transport (7.7% vs 8.4%), clothing and footwear (1.4% vs 1.5%), restaurants and accommodation services (6.2% vs 6.4%), and education (1.8% vs 1.9%). In contrast, inflation accelerated for alcoholic beverages and tobacco (5.2% vs 4.9%), furnishings, household equipment and routine household maintenance (0.8% vs 0.2%), and recreation, sport and culture (9.7% vs 8.7%), while remaining unchanged for housing and utilities (9.5%), health (7.6%), and information and communication (1.6%). On a monthly basis, consumer prices edged up 0.2% from 0.3% in May and marking the smallest increase since December 2025.