Montenegro, The slight increase in prices continues, News
The prices of personal consumption products and services, measured by the consumer price index, in February were 0.5% higher on average than in January, according to Monstat data. Compared to the same period last year, prices increased by 15.1%.
In the previous year, the prices of milk, cheese and eggs increased the most – as much as 89.4%, followed by meat, which is more expensive by 85.3%. The price of bread and cereals increased by 62.2%, clothing by 47%, and solid fuels by 42.5%. Vegetables are 39.4% more expensive, while services in restaurants and cafes are 27.2% more expensive. Other appliances, items and products for personal care are 20.8% more expensive, accommodation services 19.9%, and fruit 18.5%. The prices of short-lived goods for routine household maintenance increased by 17.3%, sugar, jam, chocolate and sweets by 16.6%, hairdressing and other personal care services by 14.5%, while the actual rent collected for renting an apartment increased by 14. 4%.
The biggest impact on the monthly inflation rate was the increase in prices in the groups vegetables, meat, clothing, fuel and lubricants for motor vehicles, followed by bread and cereals, mineral water, soft drinks, fruit and vegetable juices, fruit; shoes and other footwear. Consumer prices in January and February of this year, compared to the same period last year, are on average 15.7% higher. Observed by the main groups of products and services according to the purpose of consumption, in February compared to the previous month, growth was recorded in the groups clothing and footwear 1.3%, food and non-alcoholic beverages 0.8%, furniture, household equipment and routine apartment maintenance 0.8%, and other goods and services 0.8%. Prices also increased in the groups alcoholic beverages and tobacco 0.5%, transport 0.4%, recreation and culture 0.3%, housing, water, electricity, gas and other fuels 0.2%, communications 0.2% and health 0.1%.
A drop In prices of 1.2% was recorded in the group of restaurants and hotels. The prices of other products and services did not change significantly.
Sign up for business news updates & special reports.
- February 16, 2023 Serbian Belkalhan calcite & graphite mining developer invites JV partners for joint critical raw materials exploitation
- March 28, 2023 Montenegro, A lot is expected from the upcoming summer season
- March 28, 2023 Many joint projects are in front of Montenegro and Serbia
- March 28, 2023 Saudi low cost airline Flyadeal will fly to Tivat during summer