Montenegro’s annual inflation rate rose to 5.2% in September 2026, its highest level since April 2024, up from 4.5% in August. Inflation accelerated sharply in transport, reaching 18.5% from 16.9% in the previous month. Price growth also picked up for food (2.6% vs. 1.3%), clothing and footwear (4.1% vs. 2.2%), furnishings (2% vs. 1.6%), health (4.4% vs. 4.1%), recreation, sports and culture (3.5% vs. 3.2%), education (0.1% vs. 0%) and restaurants and hotels (6.6% vs. 6.2%). In contrast, inflation eased for housing and utilities to 1.5% from 1.9%. On a monthly basis, consumer prices rose by 0.5% in September, slowing from a 1.2% increase in August. Meanwhile, the annual harmonized inflation rate climbed to 5.5% from 4.6%, also reaching its highest level since April 2024. source: Statistical Office of Montenegro

Inflation Rate in Montenegro increased to 5.20 percent in September from 4.50 percent in August 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 October of 2026.

Inflation Rate in Montenegro increased to 5.20 percent in September from 4.50 percent in August of 2026. Inflation Rate in Montenegro is expected to be 5.20 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
2026-09-11 09:00 AM
Inflation Rate YoY
Aug 4.5% 3.8% 3.7%
2026-10-13 09:00 AM
Inflation Rate YoY
Sep 5.2% 4.5% 5.0%
2026-11-12 10:00 AM
Inflation Rate YoY
Oct 5.2%


Related Last Previous Unit Reference
Consumer Price Index CPI 106.60 106.10 points Sep 2026
CPI Housing Utilities 103.20 102.80 points Sep 2026
CPI Transportation 118.81 117.90 points Sep 2026
Export Prices 198.00 195.90 points Jun 2026
Food Inflation 2.60 1.30 percent Sep 2026
Harmonised Consumer Prices 107.10 106.83 points Sep 2026
Harmonised Inflation Rate YoY 5.50 4.60 percent Sep 2026
Inflation Rate YoY 5.20 4.50 percent Sep 2026
Inflation Rate MoM 0.50 1.20 percent Sep 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
5.20 4.50 26.50 -1.40 2001 - 2026 percent Monthly
2009=100

News Stream
Montenegro Inflation Climbs to Highest Level in Over Two Years
Montenegro’s annual inflation rate rose to 5.2% in September 2026, its highest level since April 2024, up from 4.5% in August. Inflation accelerated sharply in transport, reaching 18.5% from 16.9% in the previous month. Price growth also picked up for food (2.6% vs. 1.3%), clothing and footwear (4.1% vs. 2.2%), furnishings (2% vs. 1.6%), health (4.4% vs. 4.1%), recreation, sports and culture (3.5% vs. 3.2%), education (0.1% vs. 0%) and restaurants and hotels (6.6% vs. 6.2%). In contrast, inflation eased for housing and utilities to 1.5% from 1.9%. On a monthly basis, consumer prices rose by 0.5% in September, slowing from a 1.2% increase in August. Meanwhile, the annual harmonized inflation rate climbed to 5.5% from 4.6%, also reaching its highest level since April 2024.
2026-10-13
Montenegro Inflation Rate at 10-Month High
The annual inflation rate in Montenegro rose to 4.5% in August 2026 from 3.8% in the previous month, marking its highest level since October 2025. Prices accelerated in transport (16.9% vs 10.6% in July), restaurants and accommodation services (6.2% vs 5.4%), information and communication (5.7% vs 1.1%), recreation, sport, and culture (3.2% vs 1.4%), and miscellaneous goods and services (2.9% vs 1.9%). In contrast, inflation eased for food and non-alcoholic beverages (1.3% vs 2.2%), alcoholic beverages and tobacco (1.3% vs 2.2%), clothing and footwear (2.2% vs 2.3%), housing and utilities (1.9% vs 2.1%), furnishings, household equipment and routine household maintenance (1.6% vs 3.8%), and health (4.1% vs 4.3%), while inflation remained unchanged for education and insurance and financial services, at 2.7%. On a monthly basis, consumer prices rose 1.2% in August from 0.8% in July. Additionally, the annual harmonized inflation rate climbed to 4.6% from 3.9% in the prior month.
2026-09-11
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