Montenegro’s annual inflation rate rose to 5.2% in September 2026, its highest level since April 2024, up from 4.5% in August. The sharpest acceleration was recorded in transport, where inflation increased to 18.5% from 16.9% a month earlier. Price growth also strengthened in several other categories: 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%). By contrast, inflation in housing and utilities slowed to 1.5% from 1.9%.
On a monthly basis, consumer prices increased by 0.5% in September, decelerating from a 1.2% rise in August. Meanwhile, the annual harmonized inflation rate climbed to 5.5% from 4.6%, also reaching its highest level since April 2024.
