Serbia's annual inflation rate rose to 2.2% in August 2026 from 1.9% in July, when it reached a five-year low. Price growth accelerated for alcoholic beverages and tobacco, clothing and footwear, housing and utilities, furnishing and household equipment, transportation, information and communication, and miscellaneous goods and services. Education inflation was unchanged at 1.2%. Inflation eased for restaurants and hotels, insurance and financial services, recreation and culture, and health, while food and non-alcoholic beverage prices fell 6.3%, compared with a 6.1% decline in July. Consumer prices increased 0.5% month on month after falling 0.2% in the preceding period.