In December, a large market in Podgorica, which “Vijesti” has been monitoring for over a year, removed price tags on several products that were part of the government’s “Price Cap” initiative, including yogurt, toilet paper and bananas. While the prices of yogurt and toilet paper remained unchanged, the price of bananas decreased by 20 cents.
The “Price Cap” initiative, which began on September 6 and will last until January 31, 2024, covers 67 essential food and hygiene products. The margin for food products is capped at 10%, while hygiene product margins are capped at 10% for wholesale and 15% for retail.
Compared to December 2023, prices in the large market have dropped for items such as chicken and veal. Chicken, which cost €9.6 last year, now costs €6.5, while veal has decreased from €15 to €13 per kilogram. Other products, like milk, eggs, and apples, are also slightly cheaper. However, over half of the products in the “Vijesti” price survey have seen price increases.
The small market, which is not subject to the “Price Cap” as it is smaller than 600 square meters, shows a significant price drop for chicken, which is now €2.5 cheaper compared to last year, and milk is also slightly cheaper. Other items like fish sticks, bananas, and tomatoes have become slightly cheaper.
At the market, the prices of fruits and vegetables, such as cucumbers and tomatoes, have fluctuated in the past month, with slight reductions for some items. The overall price trend remains stable with minor variations.
In November, the government expanded the “Price Cap” list to include domestic yogurt and sour milk, bringing the total to 52 food items. Additionally, the government continued its regulation of the margin on five basic food items, including sunflower oil, sugar, flour, and salt.
In October, there was no significant change in prices compared to September, and inflation for the month was recorded at just 1.2% year-on-year. In September, the country also experienced deflation, marking the first instance of negative inflation for the year.
