The annual inflation rate in Montenegro increased to 2 percent in November of 2018 from 1.9 percent in the previous month. Prices advanced faster for food & non-alcoholic beverages (1.2 percent from 0.3 percent in October); housing & utilities (1.8 percent from 1.7 percent); miscellaneous goods & services (1.4 percent from 1.2 percent) and restaurant & hotels (2.2 percent from 2.1 percent). On the other hand, cost slowed for transport (5.5 percent from 7.9 percent); clothing & footwear (0.6 percent from 0.8 percent); communication (1 percent from 1.1 percent) and furniture & household equipment (0.9 percent from 1.1 percent). Meanwhile, prices continued to decline for health (-0.6 percent, the same as in October) and recreation & culture (-1.2 percent from -1.3 percent). On a monthly basis, consumer prices went up 0.2 percent, after a 0.2 percent decrease in October. Inflation Rate in Montenegro averaged 4.69 percent from 2001 until 2018, 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.
Inflation Rate in Montenegro is expected to be 2.10 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Inflation Rate in Montenegro to stand at 2.90 in 12 months time. In the long-term, the Montenegro Inflation Rate is projected to trend around 2.70 percent in 2020, according to our econometric models.