Montenegro Annual Inflation Holds Steady

Montenegro's annual inflation rate held steady at 3.6% in June 2026, unchanged from the previous month after easing from a three-month high of 3.8% in April. Price pressures were primarily driven by food prices, which edged up to 2.1% from 2% in the previous month, and transports costs accelerating to 12.8% from 10.7%. Additional upward pressure came from clothing and footwear (5.6% vs 5.3%), restaurants and hotels (4.4% vs 2.2%), alcoholic beverages and tobacco (5.6% vs 5.3%), furnishings (3.5% vs 2.6%), health (3.5% vs 0.2%) and recreation and culture (1.8% vs 1.3%). In contrast, inflation for housing and utilities eased to 2.8% from 3%, while information and commucination costs slowed slitghtly to 0.7% from 0.8%. Meanwhile, insurence inflation remained steady at 2.7%. The harmonised annual inflation accelerated to 3.6% from 3.4%. On a monthly basis, consumer prices rose 0.4%, matching the pace recorded in the previous month.

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.