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.

The annual inflation rate in Montenegro rose to 3.8% in April 2026 from 3.1% in the previous month, marking its highest level since December 2025. Prices continued to rise for alcoholic beverages and tobacco (5.9% vs 4.7% in March), transport (12.3% vs 4.4%), furnishings, household equipment and routine household maintenance (4.7% vs 4%), and personal care, social protection, and miscellaneous goods and services (3.2% vs 2.8%). In contrast, inflation eased for food and non-alcoholic beverages (2.7% vs 2.8%), housing and utilities (3.3% vs 3.7%), health (2.2% vs 5.4%), recreation, sport, and culture (2.2% vs 2.5%), and restaurants and accommodation services (3.9% vs 4.3%). Meanwhile, costs for information remained unchanged at 0.4%, while education prices remained flat. On a monthly basis, consumer prices rose 1.4% in April, accelerating from 0.8% in March. Additionally, the annual harmonized inflation rate climbed to 3.6% from 2.9% in the prior month.

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.