Serbia’s annual inflation slowed to 3.8% in 2025, down from 4.6% a year earlier, official data showed on January 12, pointing to easing price pressures after two years of elevated inflation.

Consumer prices rose by an average of 3.8% in 2025 compared with the previous year, while year-on-year inflation stood at 2.7% in December, Serbia’s statistical office said.

Food prices fell by 0.9% year-on-year in December, although they were 2.7% higher on average in 2025 than in 2024. Fruit prices jumped 11.7% in December from a year earlier and rose by an annual average of 18.7%, while prices of coffee, tea and cocoa surged 23.6%. Soft drinks were up 10.2%.

Utility and service costs continued to rise, with household electricity prices up 9.6% year-on-year, district heating up 5.7% and water supply costs rising 12.6%.

Among services, hairdressing and beauty treatments rose 12.3% over the year, veterinary services increased by 14.5% and maintenance and repair of passenger vehicles climbed 12.3%. Medical services were 9.3% more expensive, while medicines rose by 6%.

On a monthly basis, consumer prices edged up 0.1% in December from November. Price increases were recorded in alcoholic beverages and tobacco, up 1.7%, restaurants and hotels, up 0.9%, and health and household maintenance, each rising by 0.6%.

Prices declined in food and non-alcoholic beverages by 0.5% and in transport by 0.3%, while other categories showed no significant changes, the statistical office said.