Montenegro’s annual inflation rate rose to 3.8% in July 2026 from 3.6% in June, marking the fastest pace in recent months. Price growth accelerated for food (2.2% vs 2.1%), clothing and footwear (2.3% vs 0.9%), restaurants and hotels (5.4% vs 4.4%), information and communication (1.1% vs 0.7%), alcoholic beverages and tobacco (10.4% vs 5.6%), furnishings (3.8% vs 3.5%) and health (4.3% vs 3.5%). In contrast, inflation eased for housing and utilities (2.1% vs 2.8%), transport (10.6% vs 12.8%) and recreation and culture (1.4% vs 1.8%). On a monthly basis, consumer prices rose 0.8%, accelerating from 0.4% in June. Meanwhile, the harmonised inflation rate increased to 3.9% from 3.6%. source: Statistical Office of Montenegro

Inflation Rate in Montenegro increased to 3.80 percent in July from 3.60 percent in June of 2026. Inflation Rate in Montenegro averaged 4.60 percent from 2001 until 2026, reaching an all time high of 26.50 percent in December of 2001 and a record low of -1.40 percent in April of 2014. This page provides - Montenegro Inflation Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Montenegro Inflation Rate - data, historical chart, forecasts and calendar of releases - was last updated on August of 2026.

Inflation Rate in Montenegro increased to 3.80 percent in July from 3.60 percent in June of 2026. Inflation Rate in Montenegro is expected to be 3.60 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Montenegro Inflation Rate is projected to trend around 3.40 percent in 2027 and 3.00 percent in 2028, according to our econometric models.



Calendar GMT Reference Actual Previous Consensus TEForecast
2026-07-10 09:00 AM
Inflation Rate YoY
Jun 3.6% 3.6% 3.4%
2026-08-12 09:00 AM
Inflation Rate YoY
Jul 3.8% 3.6% 3.4%
2026-09-11 09:00 AM
Inflation Rate YoY
Aug 3.8% 3.7%


Related Last Previous Unit Reference
Consumer Price Index CPI 104.80 103.90 points Jul 2026
CPI Housing Utilities 102.10 101.90 points Jul 2026
CPI Transportation 111.90 111.20 points Jul 2026
Export Prices 198.00 195.90 points Jun 2026
Food Inflation 2.20 2.10 percent Jul 2026
Harmonised Consumer Prices 104.13 103.40 points Jun 2026
Harmonised Inflation Rate YoY 3.90 3.60 percent Jul 2026
Inflation Rate YoY 3.80 3.60 percent Jul 2026
Inflation Rate MoM 0.80 0.40 percent Jul 2026
Producer Prices 210.60 209.80 points Jun 2026
PPI YoY -0.50 -0.80 percent Jun 2026


Montenegro Inflation Rate
In Montenegro, the most important category in the consumer price index is food and non-alcoholic beverages (35 percent of total weight). Housing, water, electricity, gas and other fuels account for 14 percent; transport for 12 percent; clothing and footwear for 9 percent; communication for 5 percent; restaurants and hotels for 5 percent; other goods and services for 4 percent; alcoholic beverages and tobacco for 4 percent; and health for 4 percent. Furniture and household equipment, recreation and culture, and education account for the remaining 9 percent of total weight.
Actual Previous Highest Lowest Dates Unit Frequency
3.80 3.60 26.50 -1.40 2001 - 2026 percent Monthly
2009=100

News Stream
Montenegro Annual Inflation Accelerates in July
Montenegro’s annual inflation rate rose to 3.8% in July 2026 from 3.6% in June, marking the fastest pace in recent months. Price growth accelerated for food (2.2% vs 2.1%), clothing and footwear (2.3% vs 0.9%), restaurants and hotels (5.4% vs 4.4%), information and communication (1.1% vs 0.7%), alcoholic beverages and tobacco (10.4% vs 5.6%), furnishings (3.8% vs 3.5%) and health (4.3% vs 3.5%). In contrast, inflation eased for housing and utilities (2.1% vs 2.8%), transport (10.6% vs 12.8%) and recreation and culture (1.4% vs 1.8%). On a monthly basis, consumer prices rose 0.8%, accelerating from 0.4% in June. Meanwhile, the harmonised inflation rate increased to 3.9% from 3.6%.
2026-08-12
Montenegro Annual Inflation Holds Steady
Montenegro's annual inflation rate held steady at 3.6% in June 2026, unchanged from the previous month after easing from a three-month high of 3.8% in April. Price pressures were primarily driven by food prices, which edged up to 2.1% from 2% in the previous month, and transports costs accelerating to 12.8% from 10.7%. Additional upward pressure came from clothing and footwear (5.6% vs 5.3%), restaurants and hotels (4.4% vs 2.2%), alcoholic beverages and tobacco (5.6% vs 5.3%), furnishings (3.5% vs 2.6%), health (3.5% vs 0.2%) and recreation and culture (1.8% vs 1.3%). In contrast, inflation for housing and utilities eased to 2.8% from 3%, while information and commucination costs slowed slitghtly to 0.7% from 0.8%. Meanwhile, insurence inflation remained steady at 2.7%. The harmonised annual inflation accelerated to 3.6% from 3.4%. On a monthly basis, consumer prices rose 0.4%, matching the pace recorded in the previous month.
2026-07-10
Montenegro Inflation Rate Slows in May
The annual inflation rate in Montenegro eased to 3.6% in May 2026 from 3.8% in the previous month. Price growth moderated across several categories, including food and non-alcoholic beverages (2% vs 2.7% in April), housing and utilities (3% vs 3.3%), restaurants and hotels (3.7% vs 3.9%), personal care, social protection and miscellaneous goods and services (1.6% vs 3.2%), alcoholic beverages and tobacco (5.3% vs 5.9%). At the same time, education prices remained unchanged, while deflation for clothing and footwear eased (-0.3% vs -1.3%). In contrast, inflation accelerated for transport (14.2% vs 12.3%), information and communication (0.5% vs 0.4%), and recreation, sports and culture (2.3% vs 2.2%). On a monthly basis, consumer prices rose 0.4%, easing from a 1.4% increase in April and marking the softest monthly gain since February. Additionally, the annual harmonized inflation rate slowed slightly to 3.4% from 3.6% in the previous month.
2026-06-12