Inflation rate at 5.5 percent

Podgorica, (MINA-BUSINESS) – Compared with the last year’s corresponding period, the prices of products and services for personal consumption, measured by the consumer price index (CPI), were 5.5 percent higher in March.

According to Monstat, the consumer prices saw an average increase of 0.5 percent compared with January.

“The monthly inflation rate was affected primarily by an increase in prices of telephone and fax services, clothing, fuel and lubricants for motor vehicles, meat, vegetables, maintenance of vehicles, services in culture, short-term products for routine maintenance of the house,” stated a press release issued by Monstat.

ompared with the same period of 2023, consumer prices were higher by 4.7 percent on average between January and March.

Across the main groups, the monthly increase in prices was recorded for communications, recreation and culture, clothing and footwear, furnishings and routine maintenance of the house, other products and services, food and non-alcoholic beverages, alcoholic beverages and tobacco, housing, water, electricity, gas and other fuel.

In this period, the prices decreased in the category of hotels and restaurants.

“Prices of other products and services have not changed considerably,” the press release reads.