Montenegro Inflation Rate Rises in March

The annual inflation rate in Montenegro rose to 3.1% in March 2026 from 2.6% in the previous month. Prices increased faster for furnishings, household equipment, and routine household maintenance (4.0% vs 2.5% in February), recreation & culture (2.5% vs 1.7%), information and communication (0.4% vs 0.3%), and insurance and financial services (2.9% vs 2.7%). At the same time, costs rebounded for transport (4.4% vs -1.2%) and clothing & footwear (0.3% vs -0.6%). Meanwhile, inflation moderated for food & non-alcoholic beverages (2.8% vs 2.9%), alcoholic beverages and tobacco (4.7% vs 4.9%), housing, water, electricity, gas & other fuels (3.7% vs 4.1%), health (5.4% vs 8.8%), and restaurants & hotels (4.3% vs 5.4%), while it remained steady for miscellaneous goods and services (at 2.8%). On a monthly basis, consumer prices rose by 0.8% in March from 0.2% in the preceding month. The annual harmonized inflation rate increased to 2.9% from 2.6% in the previous two months.

Montenegro's annual inflation rate edged lower to 2.6% in February 2026 from 2.9% in the previous month. This marked the lowest reading since March 2025, as prices slowed for housing and utilities (4.1% vs 4.9%), while deflation slightly deepened for transport (-1.2% vs -1.1% in January). Overall inflation was also influenced by moderated price growth in alcoholic beverages and tobacco (4.9% vs 5.7%), furnishings, household equipment, and routine household maintenance (2.5% vs 2.9%), health (8.8% vs 12.6%), recreation and culture (1.7% vs 2.4%), and personal care, social protection, and miscellaneous goods and services (2.8% vs 3%). Meanwhile, prices were stable for food and non-alcoholic beverages (2.9%), information and communication (0.3%), education (0%), and insurance and financial services (2.7%). On a monthly basis, consumer prices slightly rose to 0.2% from 0.1% in January. The annual harmonized inflation rate stood at 2.6% in February, unchanged from the previous month.

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%.