Serbia Producer Prices Slip in January

Serbia’s producer prices fell by 0.3% year-on-year in January 2026, reversing a 1.7% rise in December. It marked the first producer deflation since May 2025, as prices slipped for manufacturing (-1.3% vs 0.8% in December), particularly manufacture of chemicals and chemical products (-1.2% vs 2.5%) and machinery and equipment nec (-0.2% vs 1.8%). Overall producer deflation was also weighed down by slowdowns in prices of electricity, gas, steam, and air-conditioning supply (3.9% vs 4%) and water supply, sewerage, waste management, and remediation activities (5.2% vs 21.4%). In addition, deflation worsened for mining and quarrying (-8.7% vs -6.7%). On a monthly basis, consumer prices declined 0.2% in January, slowing from a 0.4% fall in the previous month.