Inflation rates by country and year

0%23.9%47.8%71.7%95.6%
0%23.9%47.8%71.7%95.6%
199582.7%
20106.1%
20253.9%
Source: World Bank

Data: World Bank, annual %. For information only — not financial advice.

Year2025Inflation Rate3.9%

Behind the curve

Turning points in Serbia

  1. 2008↑ Upward pressure

    The world food price crisis — Wikipedia (opens in a new tab)

    Serbia imports much of its food and energy, so the 2007–08 global price surge fed into domestic prices.

    National Bank of Serbia
  2. 2012↑ Upward pressure

    The dinar's weakness — Wikipedia (opens in a new tab)

    Fiscal pressures and dinar depreciation pushed Serbian inflation to double digits around 2012.

    National Bank of Serbia
  3. 2022↑ Upward pressure

    The post-pandemic inflation surge — Wikipedia (opens in a new tab)

    Higher global food and energy prices lifted Serbian inflation in 2022.

    National Bank of Serbia

These are selected historical influences, not a complete account of inflation. An upward-pressure event can coincide with a peak when its inflationary effect has already occurred or when other forces begin pushing inflation lower. The markers show the years in which events occurred, although their effects may extend into later years.

What is the inflation in Serbia?

The annual inflation rate in Serbia was 3.9% in 2025, the most recent year in the World Bank dataset. That means prices rose 3.9% on average compared with the year before. Use the chart above to explore Serbia's full inflation history from 1995 to 2025, and to compare it with any other country.

How inflation in Serbia has changed

Inflation in Serbia peaked at 95.6% in 1996 and reached its lowest point at 1.1% in 2016. Averaged across the 31 years of available data (1995–2025), the rate has been 19.9% per year.

Frequently asked questions about inflation in Serbia

What is the current inflation rate in Serbia?

The latest available annual figure is 3.9% in 2025, from the World Bank. Because the figures are reported annually, they may not reflect the most recent monthly reading published by Serbia's statistical office.

What was the highest inflation rate in Serbia?

The highest annual inflation rate on record is 95.6%, reached in 1996.

What was the lowest inflation rate in Serbia?

The lowest annual inflation rate on record is 1.1%, recorded in 2016.

Where does the inflation data for Serbia come from?

All figures come from the World Bank's World Development Indicators (indicator FP.CPI.TOTL.ZG), which report annual consumer price inflation for more than 200 countries and territories from 1960 onward.