Montenegro's consumer prices went up by an annual 15.1% in February, slowing from the 16.2% y/y inflation a month earlier, statistics office data indicated on March 15 (chart). Month on month, consumer prices moved up 0.5%, after going up by 0.4% in the previous month.
In February 2022, Montenegro posted annual inflation of 6.7%. Consumer prices started to increase rapidly since April 2021 and speeded up growth further after the start of Russian war in Ukraine.
Food and non-alcoholic prices increased the most in February, by 23.8% y/y, followed by the prices of other goods and services, which were up by 17.9% y/y, restaurant and hotel prices that increased by 16.3% y/y, as well as housing, water, electricity, gas and other fuel prices that were higher by 16.1%.
In the first two months of the year, inflation was 15.7%.