Inflation Montenegro 2024
Average inflation: 3.4%
Current Inflation
Inflation is high at 3.4%, well above the ECB target.
Peak and Trough
The highest inflation was in March at 5.5%. The lowest inflation was in September at 1.0%.
- Highest month
- March: 5.5%
- Lowest month
- September: 1.0%
- Difference
- 4.5 percentage points
- Months with data
- 12 of 12
Category Insights
The highest price increase was in Core inflation with an average of 4.4%. The lowest price increase was in Energy with an average of 0.1%.
- Highest increase
- Core inflation: 4.4%
- Lowest increase
- Energy: 0.1%
Historical Context
Current inflation is 2.0% lower than the 5-year average of 5.4%.
- 5-year average
- 5.4%
- 10-year average
- 4.6%
- All-time high (2022)
- 13%
- All-time low (2020)
- -0.3%
Trend
Inflation shows a downward trend. Compared to 2023, inflation has fallen by +5.3 percentage point.
- Change vs. previous year
- -5.3 percentage points
- Largest monthly swing
- January: -11.8 percentage points
ECB Target
Inflation is 1.4% 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 €103.40 next year at this inflation rate.
Multi-year trend
Monthly figures 2024
Inflation by category
Inflation differs per product group. Click on a category for the historical trend.
Month overview
| Month | Inflation | Difference vs. 2023 |
|---|---|---|
| January | 4.4% | -11.8 |
| February | 4.3% | -10.8 |
| March | 5.5% | -5.0 |
| April | 5.4% | -3.2 |
| May | 4.9% | -3.5 |
| June | 4.1% | -3.4 |
| July | 3.5% | -3.4 |
| August | 2.2% | -6.4 |
| September | 1.0% | -6.9 |
| October | 1.2% | -4.9 |
| November | 1.7% | -3.1 |
| December | 2.1% | -2.2 |
| Average | 3.4% |
Data source
Data from WorldBank. Last updated: 06/01/2026.