Serbia’s average monthly net wage reached RSD 120,401 (€1,026) in June, with earnings continuing to increase significantly faster than inflation. Annual growth reached 12.4% in nominal terms and 9.4% in real terms, while average net earnings for the first six months stood at RSD 119,469, equivalent to roughly €1,018. Real wage growth over the six-month period was 8.4%.
Second-quarter earnings and sector differences
Average net earnings during the second quarter amounted to RSD 120,201. Employees in the public sector recorded average net pay of RSD 125,204, compared with RSD 118,168 among employees outside the public sector. Wage growth was also accompanied by an increase in Serbia’s minimum hourly net wage. The rate rose to RSD 371 in 2026, from RSD 337 late last year.
Wage growth affects household demand and business costs
The increase in real earnings has strengthened household purchasing power and supported demand across retail and services. At the same time, higher wages are increasing operating costs for companies, particularly in labour-intensive industries and services. The pace of wage growth relative to productivity and company revenues remains an important factor for businesses as the year progresses.
