Inflation in Montenegro

Montenegro Inflation | Economic News & Forecasts

Montenegro - Inflation

Available data from Q1 points to strong growth. There was surge in exports and tourist arrivals in the period, by the end of Covid-19 restrictions throughout Europe. Moreover, real wages grew rapidly—likely thanks to the minimum wage hike to EUR 450 from 1 January—unemployment decreased steadily and retail sales boomed, boding well for household consumption. Turning to Q2, tourism sector data is positive: April showed soaring arrivals compared to 2021, and the national airway company is adding additional flights to further boost visitor numbers. That said, soaring inflation in the wake of the Ukraine war could be limiting spending. Meanwhile, a coalition government of pro-EU and pro-Serb forces recently took office after three months of political impasse. While the formation of a government bodes well for economic stability, the new administration will have difficulty achieving structural reforms.

Montenegro - Inflation Data

2015   2016   2017   2018   2019  
Inflation Rate (CPI, annual variation in %)1.5  -0.3  2.4  2.6  0.4  

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Montenegro Inflation Chart

Montenegro Inflation
Note: Inflation, annual variation of consumer price index (CPI) in % (aop).
Source: Statistical Office of Montenegro (MONSTAT)

Montenegro Facts

Value Change Date
Exchange Rate1.120.65 %Dec 31

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