The annual inflation rate in Montenegro edged down to 17.2% in December 2022, the second highest since July 2002 after increasing to 17.5% in the previous month. Main upward pressures came from housing and utilities (16.2% vs 15.5% in November), clothing and footwear (8.3% vs 7.7%) and restaurants & hotels (16.8% vs 15.3%). On the other hand, prices mainly slowed for food & non-alcoholic beverages (28.9% vs 30.2%), transport (12% vs 13.5%) and alcoholic beverages & tobacco (5.7% vs 6%). Meanwhile, the harmonized index rose by 15.7% year-on-year, from 15.8% in November. On a monthly basis, consumer prices inched up by 0.1%, the smallest growth since August 2021. source: Statistical Office of Montenegro

Inflation Rate in Montenegro averaged 4.53 percent from 2001 until 2022, reaching an all time high of 26.50 percent in December of 2001 and a record low of -1.40 percent in April of 2014. This page provides - Montenegro Inflation Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Montenegro Inflation Rate - data, historical chart, forecasts and calendar of releases - was last updated on January of 2023.

Inflation Rate in Montenegro is expected to be 12.50 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Montenegro Inflation Rate is projected to trend around 3.50 percent in 2024, according to our econometric models.

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Montenegro Inflation Rate



Calendar GMT Actual Previous Consensus TEForecast
2022-12-15 10:00 AM Nov 17.5% 16.8% 17%
2023-01-17 10:45 AM Dec 17.2% 17.5% 17%
2023-02-22 10:00 AM Jan 17.2%


Related Last Previous Unit Reference
Inflation Rate 17.20 17.50 percent Dec 2022
Inflation Rate MoM 0.10 0.90 percent Dec 2022
Consumer Price Index CPI 128.40 128.40 points Dec 2022
Producer Prices 194.50 192.40 points Sep 2022
CPI Transportation 123.30 127.00 points Dec 2022
CPI Housing Utilities 121.50 120.00 points Dec 2022
Food Inflation 28.90 30.20 percent Dec 2022
Harmonised Consumer Prices 127.10 126.40 points Nov 2022
Producer Prices Change 15.70 14.00 percent Sep 2022
Export Prices 200.10 205.90 points Sep 2022

Montenegro Inflation Rate
In Montenegro, the most important category in the consumer price index is food and non-alcoholic beverages (35 percent of total weight). Housing, water, electricity, gas and other fuels account for 14 percent; transport for 12 percent; clothing and footwear for 9 percent; communication for 5 percent; restaurants and hotels for 5 percent; other goods and services for 4 percent; alcoholic beverages and tobacco for 4 percent; and health for 4 percent. Furniture and household equipment, recreation and culture, and education account for the remaining 9 percent of total weight.
Actual Previous Highest Lowest Dates Unit Frequency
17.20 17.50 26.50 -1.40 2001 - 2022 percent Monthly
2009=100

News Stream
Montenegro Inflation Rate Remains High
The annual inflation rate in Montenegro edged down to 17.2% in December 2022, the second highest since July 2002 after increasing to 17.5% in the previous month. Main upward pressures came from housing and utilities (16.2% vs 15.5% in November), clothing and footwear (8.3% vs 7.7%) and restaurants & hotels (16.8% vs 15.3%). On the other hand, prices mainly slowed for food & non-alcoholic beverages (28.9% vs 30.2%), transport (12% vs 13.5%) and alcoholic beverages & tobacco (5.7% vs 6%). Meanwhile, the harmonized index rose by 15.7% year-on-year, from 15.8% in November. On a monthly basis, consumer prices inched up by 0.1%, the smallest growth since August 2021.
2023-01-17
Montenegro Inflation Rate Quickens to 17.5%
The annual inflation rate in Montenegro jumped 17.5 percent in November of 2022, the highest since July 2002, from 16.8 percent in the previous period. Main upward pressures came from food & non-alcoholic beverages (30.2 percent vs 29.5 percent in October), housing & utilities (15.5 percent vs 14.8 percent), transport (13.5 percent vs 11.9 percent), clothing & footwear (7.7 percent vs 6.6 percent), miscellaneous goods & services (14.5 percent vs 13.6 percent) and recreation & culture (3.1 percent vs 2.3 percent). On the other hand, inflation eased for health (6.7 percent vs 7.5 percent) and restaurants & hotels (15.3 percent vs 17.4 percent), while price growth was steady for alcoholic beverages & tobacco (at 6 percent) and education (at 3.1 percent). On a monthly basis, consumer prices went up 0.9 percent, easing from a 1.4 percent gain in October. In addition, the harmonized index rose by 15.8 percent on the year and by 0.5 percent in comparison with last month.
2022-12-15
Montenegro Inflation Rate Highest Since 2002
The annual inflation rate in Montenegro increased to 16.8 percent in October of 2022, the highest since July 2002, from 16 percent in the previous period. Main upward pressures came from food & non-alcoholic beverages (29.5 percent vs. 26.9 percent in September), furnishing, household equipment & routine household maintenance (12.2 percent vs. 9.7 percent), miscellaneous goods & services (13.6 percent vs. 9.6 percent), housing & utilities ( 14.8 percent vs. 14.4 percent) and education (3.1 percent vs. -0.1 percent). On the other hand, inflation eased for transport (11.9 percent vs. 14.2 percent) and clothing & footwear (6.6 percent vs. 7.7 percent), while price growth was steady for communication (0.1 percent). On a monthly basis, the CPI was unchanged (at 1.4%). In addition, the harmonized index rose by 15.5 percent on the year and unchanged (at 0.8%) in comparison with last month.
2022-11-16