Montenegro Consumer Price Index Report: March 2024 Shows 0.5% Increase from February, 5.5% Rise from March 2023

April 17, 2024

Prices of goods and services for personal consumption in Montenegro, measured by consumer price index, in March 2024, as compared to February 2024, increased by 0.5% on average. Consumer prices in March 2024, as compared to March 2023, increased by 5.5% on average. This was influenced mostly by increase in prices of: telephone and telefax services; garments; fuels and lubricants for personal transport equipment; meat; vegetables; maintenance and repair of personal transport equipment; cultural services; non-durable household goods. Consumer prices in period January-March 2024 compared to the same period of previous year, were higher for 4.7% in average.
Observing the main groups by purpose of consumption, in March 2024 as compared to February 2024, monthly increase of prices was noticed in the following groups: Communication (4.4%); Recreation and culture (1.1%); Clothing and footwear (1.0%); Transport (1.0%); Furnishing, household equipment and routine household maintenance (0.5%); Miscellaneous goods and services (0.5%); Food and non-alcoholic beverages (0.2%); Alcoholic beverages and tobacco (0.2%); Housing, water, electricity, gas and other fuels (0.1%), while decrease of prices was recorded in the following groups: Restaurants and hotels (-0.6%).
Prices of other products and services mostly remained unchanged.

Source: MONSTAT
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