Inflation in Montenegro is rising again: Highest rate in the last 14 months

Annual inflation in Montenegro reached 4.5% in July, the highest level since May 2024, according to data from the Statistical Office (Monstat). This is a jump from the June rate of 4.2%, and price increases were recorded in most key sectors.

The biggest pressure on household budgets comes from the rising cost of food and non-alcoholic beverages, whose prices have increased by 5.2% year-over-year. The cost of housing, water, electricity, gas, and other fuels rose by 6.9%, while recreation and culture jumped by as much as 8.2%. Prices for miscellaneous goods and services increased by 5.3%, and in all these categories, the growth was faster than in June.

On the other hand, a drop in prices was recorded in the transportation sector, as well as in clothing and footwear. The price increase for alcoholic beverages and tobacco remained at 5.81%, while education (+0.91%), healthcare, communications, and hospitality recorded a slower pace of price growth.

On a monthly basis, consumer prices in July rose by 0.61%, an acceleration from 0.4% in the previous month. Experts warn that a continuation of this trend could further strain households, especially ahead of the start of the school year and rising seasonal costs.

Monstat notes that inflation trends in the coming months depend on international energy markets, food prices, and domestic consumption.

SOURCE: B92, PHOTO: FREEPIK