Montenegro Inflation Rate at 10-Month Low

Montenegro's annual inflation rate eased to 2.9% in January 2026, from 4% in December. This marked the lowest reading since March 2025, as prices moderated for food and non-alcoholic beverages (2.9% vs 4.2% in December), housing and utilities (4.9% vs 7.4%), furnishings, household equipment, and routine household maintenance (2.9% vs 3.2%), health (12.6% vs 13.6%), and recreation, sports, and culture (2.4% vs 5%). In addition, costs fell for transport (-1.1% vs 1.5%). Conversely, costs increased at a faster pace for alcoholic beverages and tobacco (5.7% vs. 5.2%) and restaurants and accommodation services (5.5% vs. 5.4%), while remaining unchanged for clothing and footwear (-2.2%) and education (0%). On a monthly basis, consumer prices rose 0.1%, recovering from a 0.3% fall in December. Meanwhile, the annual harmonized inflation rate slowed to 2.6% from 3.7%.

Montenegro's annual inflation rate edged down to 4% in December 2025 from 4.2% in the previous month. It marked the lowest reading since May, as prices moderated for transport (1.5% vs 3.3% in November), alcoholic beverages and tobacco (5.2% vs 6%), furnishings, household equipment and routine household maintenance (3.2% vs 3.3%), recreation and culture (5% vs 7.6%), and restaurants and hotels (5.4% vs 5.8%). Moreover, deflation slightly deepened for communication (-0.8% vs -0.7%). Meanwhile, costs increased at a faster pace for food and non-alcoholic beverages (4.2% vs 3.9%) and health (13.6% vs 13.1%), while costs were stable for housing and utilities (7.4%) and education (0%). In addition, deflation softened for clothing and footwear (-2.2% vs -2.7%). On a monthly basis, consumer prices fell 0.3% in December, slightly slowing from a 0.4% decrease in the previous month. Meanwhile, the annual harmonized inflation rate ticked lower to 3.7%, from 3.9% in November.

Montenegro’s annual inflation rate eased to 4.2% in November 2025, from 4.8% in the previous month. It marked the lowest reading since June, as prices moderated for food and non-alcoholic beverages (3.9% vs 6% in October), furnishing, household equipment and routine household maintenance (3.3% vs 4.3%), alcoholic beverages and tobacco (6% vs 6.1%), restaurants and hotels (5.8% vs 6.4%), and miscellaneous goods and services (3.1% vs 3.5%). In contrast, prices rose at a faster pace for transport (3.3% vs 2.5%) and recreation and culture (7.6% vs 7.2%), while deflation softened for clothing and footwear (-2.7% vs -4.1%). Prices remained steady for housing and utilities (7.4%), health (13.1%), communication (-0.7%), and education (0%). On a monthly basis, consumer prices fell 0.4% in November, slipping further from a 0.2% decline in the previous month. Meanwhile, annual harmonized inflation rate slowed to 3.9%, from 4.6% in October.