Montenegro Inflation Rate Climbs to 3-Year High

Montenegro’s annual inflation rate rose to 5.9% in October 2026, its highest level since October 2023, up from 5.2% in September. The acceleration was driven by faster price growth in transport to 20.3% from 18.5% in the prior month, housing and utilities (1.9% vs 1.5%) and food (3.5% vs 2.6%), alongside furnishings (3.7% vs 2%), recreation, sports and culture (4.1% vs 3.5%), and education (0.3% vs 0.1%). Inflation stood at 4.4% for health. By contrast, price growth eased in clothing and footwear (3.5% vs 4.1%) and restaurants and hotels (5.8% vs 6.6%). From the previous month, consumer prices rose by 0.5% in October, unchanged from September. Meanwhile, the annual harmonized inflation rate rose to 5.9% from 5.5%, reaching its highest level since March 2024.

Montenegro’s annual inflation rate rose to 5.2% in September 2026, its highest level since April 2024, up from 4.5% in August. Inflation accelerated sharply in transport, reaching 18.5% from 16.9% in the previous month. Price growth also picked up for food (2.6% vs. 1.3%), clothing and footwear (4.1% vs. 2.2%), furnishings (2% vs. 1.6%), health (4.4% vs. 4.1%), recreation, sports and culture (3.5% vs. 3.2%), education (0.1% vs. 0%) and restaurants and hotels (6.6% vs. 6.2%). In contrast, inflation eased for housing and utilities to 1.5% from 1.9%. On a monthly basis, consumer prices rose by 0.5% in September, slowing from a 1.2% increase in August. Meanwhile, the annual harmonized inflation rate climbed to 5.5% from 4.6%, also reaching its highest level since April 2024.

The annual inflation rate in Montenegro rose to 4.5% in August 2026 from 3.8% in the previous month, marking its highest level since October 2025. Prices accelerated in transport (16.9% vs 10.6% in July), restaurants and accommodation services (6.2% vs 5.4%), information and communication (5.7% vs 1.1%), recreation, sport, and culture (3.2% vs 1.4%), and miscellaneous goods and services (2.9% vs 1.9%). In contrast, inflation eased for food and non-alcoholic beverages (1.3% vs 2.2%), alcoholic beverages and tobacco (1.3% vs 2.2%), clothing and footwear (2.2% vs 2.3%), housing and utilities (1.9% vs 2.1%), furnishings, household equipment and routine household maintenance (1.6% vs 3.8%), and health (4.1% vs 4.3%), while inflation remained unchanged for education and insurance and financial services, at 2.7%. On a monthly basis, consumer prices rose 1.2% in August from 0.8% in July. Additionally, the annual harmonized inflation rate climbed to 4.6% from 3.9% in the prior month.