NewsMontenegro, The minimum consumer basket for March was EUR 801.1

Montenegro, The minimum consumer basket for March was EUR 801.1

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The total value of the minimum consumer basket for March was EUR 801.1, and compared to the same period last year, it recorded a growth of 12%, Monstat announced.

Expenditures for food and non-alcoholic beverages in March 2023, compared to March 2022, recorded an increase of 16%, while expenditures for non-food products and services, compared to March 2022, recorded an increase of 8.6%.

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According to Monstat data, the minimum consumer basket for January was EUR 803.3, and for February it was EUR 809.4.

The minimum consumer basket refers to household consumption that includes food and non-food products and services, needed by a four-member household to meet the minimum needs defined by the amount of calories per person, which is considered adequate to meet the energy needs for maintaining health and performing light physical activity.

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The defined calories are in accordance with the minimum recommendations of the World Health Organization (WHO) and the Nutrition Manual of the United States Department of Agriculture in 2010 (USA Food Guide 2010), minimum intake of in the amount of 2,211 Kcal, per day per person – it was explained.

The minimum consumer basket is based on data from the Household Consumption Survey and World Bank recommendations.

The value of the minimum consumer basket for a household of four consists of minimum expenses related to food and non-alcoholic beverages and non-food products and services – it was stated.

Average prices in the current month and monthly quantities of products for a household of four are used to calculate the minimum expenses related to food and non-alcoholic beverages. Consumer price indexes (CPI) are used to calculate the value of a basket of non-food products and services.

 

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