In 2020, retail food sales in Montenegro amounted to around 668 million EUR, whereas last year, spending on food in our stores surged to approximately 1.154 billion EUR, as reported by Monstat.
Monstat further revealed that the total turnover of goods in Montenegro’s retail trade sector for 2023 reached 2.887 billion EUR.
The largest portion of this turnover, comprising 40.4%, was attributed to food products, totaling 1.1548 billion EUR in expenditures on food alone.
Comparatively, earlier Monstat figures indicated that retail trade turnover in Montenegro stood at 1.602 billion EUR in 2020. During that period, food products held the largest share of total turnover at 41.7%, amounting to about 668.034 million EUR spent on food.
Additionally, recent inflation data highlights a 5.5% increase in prices of consumer goods and services in March compared to the previous year.
Monstat’s data also underscores significant price hikes from 2021 to the end of 2023, with food and non-alcoholic beverages rising by 47%. Concurrently, prices for services in restaurants and hotels, clothing, footwear, as well as housing, water, electricity, gas, and other fuels, increased by over 30% during the same period.
