Inflation rate at 8.6 percent

Podgorica, (MINA-BUSINESS) – Compared with 2022, the prices of products and services for personal consumption, measured by the consumer price index (CPI), were 8.6 percent higher on average last year.

According to Monstat, the consumer prices saw an average increase of 4.3 percent in December, compared with the corresponding period or 2022.

Compared with November 2023, the consumer prices were 0.5 percent lower on average in last December.

“The monthly inflation rate was affected primarily by an increase in prices of fuel and lubricants for motor vehicles, vegetables, fruit and meat,” stated a press release issued by Monstat.

Across the main groups, the monthly increase in prices was recorded for recreation and culture.

In this period, the prices decreased in the category of clothing and footwear, food and non-alcoholic beverages, furnishings and routine maintenance of the house, healthcare, housing, water, electricity, gas and other fuel, other products and services, and alcoholic beverages and tobacco.

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