Inflation Montenegro 2021
Average inflation: 2.4%
Current Inflation
Inflation is normal at 2.4%, around the ECB target.
Peak and Trough
The highest inflation was in December at 4.6%. The lowest inflation was in January at -0.7%.
- Highest month
- December: 4.6%
- Lowest month
- January: -0.7%
- Difference
- 5.3 percentage points
- Months with data
- 12 of 12
Category Insights
The highest price increase was in Energy with an average of 7.5%. The lowest price increase was in Core inflation with an average of 1.9%.
- Highest increase
- Energy: 7.5%
- Lowest increase
- Core inflation: 1.9%
Historical Context
Current inflation is 0.9% higher than the 5-year average of 1.5%.
- 5-year average
- 1.5%
- 10-year average
- 1.4%
- All-time high (2012)
- 4.2%
- All-time low (2014)
- -0.7%
Trend
Inflation shows an upward trend. Compared to 2020, inflation has risen by +2.7 percentage point.
- Change vs. previous year
- +2.7 percentage points
- Largest monthly swing
- December: +5.5 percentage points
ECB Target
Inflation is 0.4% above the ECB target of 2.0%. This means purchasing power is declining faster than intended.
Purchasing Power
At this inflation rate, purchasing power noticeably decreases. Without a salary increase, you can buy less with the same money.
What you could buy for €100 this year will cost approximately €102.40 next year at this inflation rate.
Multi-year trend
Monthly figures 2021
Inflation by category
Inflation differs per product group. Click on a category for the historical trend.
Month overview
| Month | Inflation | Difference vs. 2020 |
|---|---|---|
| January | -0.7% | -2.2 |
| February | -0.1% | -1.0 |
| March | 0.8% | +0.8 |
| April | 2.2% | +3.1 |
| May | 2.4% | +3.4 |
| June | 2.4% | +2.6 |
| July | 3.1% | +3.6 |
| August | 3.1% | +3.6 |
| September | 2.9% | +2.8 |
| October | 3.8% | +4.4 |
| November | 4.4% | +5.4 |
| December | 4.6% | +5.5 |
| Average | 2.4% |
Data source
Data from WorldBank. Last updated: 06/01/2026.