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Thursday, May 23, 2024
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Examining Montenegro’s April inflation: Surge in consumer prices

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The latest data from Monstat reveals that in April, the prices of goods and services for personal consumption, as measured by the consumer price index, were on average 5.4 percent higher compared to the same period last year. According to the report, the largest contributors to the monthly inflation rate were the increased prices in categories such as clothing, shoes, other footwear, fruits, vegetables, air passenger transport, fuel, lubricants for motor vehicles, accommodation services, coffee, tea, and cocoa.

In the period from January to April, consumer prices showed an average increase of 4.9 percent compared to the corresponding period in the previous year.

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When examining the main groups of products and services based on consumption purpose, April saw an uptick in the prices of clothing and footwear by 3.6 percent, transportation by 0.5 percent, restaurants and hotels by 0.4 percent, and health, recreation, and culture by 0.2 percent.

However, there was a decrease in prices observed in other categories, including other goods and services by 1.7 percent, furniture, household equipment, and routine home maintenance by 1.3 percent, as well as food and non-alcoholic beverages by 0.4 percent.

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Overall, the prices of most other products and services remained relatively stable during this period.

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