The annual inflation rate in Montenegro rose to 1 percent in December 2019 from 0.5 percent in the previous month. It was the highest inflation rate in a year, as cost of transport rebounded (2.4 percent from -1.4 percent in November) and prices advanced further for food & non-alcoholic beverages (3.2 percent from 2.9 percent) and furniture & household equipment (1 percent from 0.6 percent). Also, cost of clothing & footwear dropped at a softer pace (-2.4 percent from -3.4 percent). In contrast, prices slowed for miscellaneous goods & services (1 percent from 1.1 percent); health (0.1 percent from 0.3 percent); and alcoholic beverages & tobacco (0.1 percent from 0.2 percent). Additionally, prices of housing & utilities continued to fall (-0.5 percent, the same as in November). On a monthly basis, consumer prices declined 0.1 percent, after increasing 0.1 percent in the prior month. Considering 2019 as a whole, the inflation rate was at 0.4 percent. Inflation Rate in Montenegro averaged 4.46 percent from 2001 until 2019, 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.

Inflation Rate in Montenegro is expected to be 1.30 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Inflation Rate in Montenegro to stand at 1.40 in 12 months time. In the long-term, the Montenegro Inflation Rate is projected to trend around 1.70 percent in 2020, according to our econometric models.

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Montenegro Inflation Rate

Actual Previous Highest Lowest Dates Unit Frequency
1.00 0.50 26.50 -1.40 2001 - 2019 percent Monthly
2009=100



Calendar GMT Actual Previous Consensus TEForecast
2019-10-15 09:00 AM Inflation Rate YoY Sep -0.2% -0.2% -0.6%
2019-11-15 10:00 AM Inflation Rate YoY Oct 0.5% -0.2% -0.1%
2019-12-17 10:00 AM Inflation Rate YoY Nov 0.5% 0.5% 0.6%
2020-01-16 10:30 AM Inflation Rate YoY Dec 1% 0.5% 1.3%
2020-02-27 09:00 AM Inflation Rate YoY Jan 1%


News Stream
2019-12-17
Montenegro Inflation Rate Steady at 0.5% in November
The annual inflation rate in Montenegro stood at 0.5 percent in November of 2019, unchanged from the previous month. Cost slowed for food & non-alcoholic beverages (2.9 percent vs 3.3 percent in October); restaurants & hotels (1.3 percent vs 2.9 percent); miscellaneous goods & services (1.1 percent vs 1.3 percent) and alcoholic beverages & tobacco (0.2 percent vs 0.3 percent). Meantime, prices dropped less for housing & utilities (-0.5 percent vs -0.9 percent); transport (-1.4 percent vs -2.0 percent) and clothing & footwear (-3.4 percent vs -4.0 percent) while cost advanced faster for furniture & household equipment (0.6 percent vs 0.4 percent) and health (0.3 percent vs 0.2 percent). On a monthly basis, consumer prices rose 0.1 percent, following a 0.5 percent gain in the previous month.

2019-11-15
Montenegro Consumer Prices Rebound in October
Montenegro's consumer prices increased 0.5 percent from a year earlier in October, following a 0.2 percent drop in the previous month. It was the first rise in consumer prices since May, driven by prices of food & non-alcoholic beverages (3.3 percent vs 3.1 percent in September) and restaurants & hotels (2.9 percent vs -0.3 percent). Meanwhile, cost continued to fall for transport (-2 percent vs -2.4 percent); housing & utilities (-0.9 percent vs -0.8 percent); clothing & footwear (-4 percent vs -8.8 percent); communication (-1.1 percent, the same pace as in September) and recreation & culture (-0.8 percent vs -1 percent). On a monthly basis, consumer prices went up 0.5 percent, after increasing 0.1 percent in the preceding month.

2019-10-15
Montenegro Consumer Prices Fall for 4th Month
Montenegro's consumer prices fell 0.2 percent from a year earlier in September 2019, the same as in the previous month. It was the fourth straight month of deflation, as cost fell for housing & utilities (-0.8 percent vs 0.8 percent); transport (-2.4 percent vs -1.6 percent in August) and clothing & footwear (-8.8 percent vs -6.9 percent) while prices slowed for furniture & household equipment (0.6 percent vs 1.0 percent) and miscellaneous goods & services (1.2 percent vs 1.4 percent). On the other hand, food & non-alcoholic beverages prices advanced faster (3.1 percent vs 2.7 percent) while health cost rebounded (0.2 percent vs -0.5 percent). On a monthly basis, consumer prices increased 0.1 percent, the same as in August.

2019-09-17
Montenegro Consumer Prices Fall for 3rd Straight Month
Montenegro's consumer prices fell 0.2 percent from a year earlier in August 2019, following a 0.4 percent decline in the previous month. Cost dropped less for transport (-1.6 percent compared to -2 percent in July); clothing & footwear (-6.9 percent compared to -8.9 percent); restaurants & hotels (-2 percent compared to -2.1 percent); and health (-0.5 percent compared to -0.7 percent). Also, prices went up further for furnishings & household equipment (1 percent compared to 0.5 percent); and miscellaneous goods & services (1.4 percent compared to 1.2 percent). On the other hand, prices of housing & utilities slowed (0.8 percent compared to 1.8 percent) and cost of communication decreased at a faster pace (-1.1 percent compared to -1 percent). Additionally, inflation was steady for food & non-alcoholic beverages (at 2.7 percent). On a monthly basis, consumer prices increased 0.1 percent, rebounding from a 0.1 percent decline in the prior month.

2019-08-15
Montenegro Deflation Deepens in July
Montenegro's consumer prices dropped 0.4 percent from a year earlier in July 2019, following a 0.1 percent decline in the previous month, with main downward pressure coming from: transport (-2 percent vs -2.6 percent); clothing & footwear (-8.9 percent vs -7.9 percent); communication (-1 percent vs -0.9 percent); and restaurants & hotels (-2.1 percent vs 0.2 percent). In addition, food & non-alcoholic beverages rose at a softer pace (2.7 percent vs 3.2 percent). Housing inflation however accelerated to 1.8 percent from 1.5 percent in June. On a monthly basis, consumer prices edged 0.1 percent lower.

2019-07-12
Montenegro Consumer Prices Fall for 1st time in Nearly 3 Years
Consumer prices in Montenegro fell 0.1 percent year-on-year in June 2019, after a 0.7 percent gain in May. It was the first decline in consumer prices since September 2016, as cost of transport dropped (-2.6 percent vs 0.5 percent in May) and decreased further for clothing & footwear (-7.9 percent vs -6.7 percent) and health (-0.5 percent vs -0.4 percent). In addition, prices slowed for food & alcoholic beverages (3.2 percent vs 4.1 percent) and housing & utilities (1.5 percent vs 2.8 percent). Meanwhile, cost rebounded for furniture & household equipment (0.1 percent vs -0.1 percent) and restaurants & hotels rebounded (0.2 percent vs -0.6 percent). Also, prices went down less for communication (-0.9 percent vs -1 percent) and alcoholic beverages & tobacco (-6.8 percent vs -6.9 percent) while inflation was steady for miscellaneous goods & services (1 percent, the same as in May). On a monthly basis, consumer prices decreased 0.7 percent, following a 0.2 percent gain in May.


Montenegro Inflation Rate
In Montenegro, the most important category in the consumer price index is Food and Non-Alcoholic Beverages (34 percent of total weight). Housing and Utilities accounts for 15 percent; Transport for 11 percent; Clothing and Footwear for 9 percent; Communication for 5 percent; and Restaurants and Hotels for 5 percent. Furniture, Household Goods and Maintenance; Health; Alcoholic beverages and Tobacco; Recreation and Culture; Miscellaneous Goods and Services and Education account for the remaining 21 percent of total weight.

Montenegro Prices Last Previous Highest Lowest Unit
Inflation Rate 1.00 0.50 26.50 -1.40 percent [+]
Inflation Rate Mom -0.10 0.10 5.00 -1.10 percent [+]
Consumer Price Index CPI 105.70 105.70 105.70 89.80 points [+]
Producer Prices 170.00 170.40 170.60 93.20 points [+]
Harmonised Consumer Prices 106.50 106.50 107.20 89.90 points [+]
Producer Prices Change 2.30 2.60 19.70 -9.90 percent [+]
Food Inflation 3.20 2.90 8.70 -3.60 percent [+]
Export Prices 132.60 132.70 140.90 88.00 points [+]
Cpi Housing Utilities 104.20 103.90 105.00 84.78 points [+]
Cpi Transportation 108.30 107.60 109.90 92.63 points [+]