Inflation Montenegro 2022
Average inflation: 13.0%
Current Inflation
Inflation is very high at 13.0%, far above the ECB target.
Peak and Trough
The highest inflation was in November at 17.5%. The lowest inflation was in January at 5.7%.
- Highest month
- November: 17.5%
- Lowest month
- January: 5.7%
- Difference
- 11.8 percentage points
- Months with data
- 12 of 12
Category Insights
The highest price increase was in Food with an average of 22.5%. The lowest price increase was in Core inflation with an average of 10.4%.
- Highest increase
- Food: 22.5%
- Lowest increase
- Core inflation: 10.4%
Historical Context
Current inflation is 9.4% higher than the 5-year average of 3.6%. This approaches the highest level since records began (13.0% in 2022).
- 5-year average
- 3.6%
- 10-year average
- 2.3%
- All-time high (2022)
- 13%
- All-time low (2014)
- -0.7%
Trend
Inflation shows an upward trend. Compared to 2021, inflation has risen by +10.6 percentage point.
- Change vs. previous year
- +10.6 percentage points
- Largest monthly swing
- September: +13.1 percentage points
ECB Target
Inflation is 11.0% above the ECB target of 2.0%. This means purchasing power is declining faster than intended.
Purchasing Power
At this high inflation rate, purchasing power rapidly decreases. This has a major impact on households, especially without adequate salary increases.
What you could buy for €100 this year will cost approximately €113.00 next year at this inflation rate.
Multi-year trend
Monthly figures 2022
Inflation by category
Inflation differs per product group. Click on a category for the historical trend.
Month overview
| Month | Inflation | Difference vs. 2021 |
|---|---|---|
| January | 5.7% | +6.4 |
| February | 6.7% | +6.8 |
| March | 9.7% | +8.9 |
| April | 11.2% | +9.0 |
| May | 11.7% | +9.3 |
| June | 13.5% | +11.1 |
| July | 14.9% | +11.8 |
| August | 15.0% | +11.9 |
| September | 16.0% | +13.1 |
| October | 16.8% | +13.0 |
| November | 17.5% | +13.1 |
| December | 17.2% | +12.6 |
| Average | 13.0% |
Data source
Data from WorldBank. Last updated: 06/01/2026.