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Montenegro, Inflation was in slight decline in March

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The prices of personal consumption products and services, measured by the consumer price index, were on average 0.7% lower in March compared to February, according to Monstat data. Compared to the same month last year, consumer prices are 10.5% higher on average.

The biggest impact on the monthly inflation rate was the rise in prices in the groups fuel and lubricants for motor vehicles, shoes and other footwear, vehicle maintenance and repair, meat, restaurants, cafes and the like, clothing, food products n.d.s., solid fuels – stated from Monstat.

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Consumer prices in the period from January to March of this year were, on average, higher by 13.9% compared to the same period last year.

Observed by the main groups of products and services according to the purpose of consumption, in March 2023, compared to the previous month, growth was recorded in the groups transport two percent, clothing and footwear 1.7%, furniture, household equipment and routine apartment maintenance 0, 5%, health 0.4%, recreation and culture 0.3%, and housing, water, electricity, gas and other fuels 0.2%.

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The drop in prices was recorded in the groups food and non-alcoholic beverages by three percent, other goods and services by 0.4%, communications by 0.1% and restaurants and hotels by 0.1%. The prices of other products and services did not change significantly.


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