There is no obvious solution available in SharePoint lists to filter list data based on month. However, we can create a calculated field to provide a column which would display Month info. Then we can use that month column to group data based on months.

Here is the simple 2 step procedure:

1. Create a new calculated field and use following formula to display month out of the modified date:
=TEXT(Modified,"MMMM")

This formula will display month extracted from "Modified" date.

2. Now, use this newly created column to filter list data in Groups.

That's it!

Further formatting options using =TEXT() function are:

November 2008 =TEXT([Modified],"mmmm")&" "&TEXT([Modified],"yyyy")

November 08 =TEXT([Modified],"mmmm")&" "&TEXT([Modified],"yy")

Nov 08 =TEXT([Modified],"mmm")&" "&TEXT([Modified],"yy")

10 08 =TEXT([Modified],"mm")&" "&TEXT([Modified],"yy")

10 08 =TEXT([Modified],"m")&" "&TEXT([Modified],"yy")

November Monday 2008 =TEXT([Modified],"mmmm")&" "&TEXT([Modified],"dddd")&" "&TEXT([Modified],"yyyy")

November Mon 2008 =TEXT([Modified],"mmmm")&" "&TEXT([Modified],"ddd")&" "&TEXT([Modified],"yyyy")

November 17 2008 =TEXT([Modified],"mmmm")&" "&TEXT([Modified],"dd")&" "&TEXT([Modified],"yyyy")
Monday November 17^th, 2008 =TEXT([Modified],"dddd")&" "&TEXT([Modified],"mmmm")&" "&TEXT([Modified],"d")&"th, "&TEXT([Modified],"yyyy")

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