Vegetables, bread, juices and cigarettes went up in Montenegro this year. In addition, solid fuels such as coal and wood went up by 15.3% compared to July last year, with the largest price reductions being registered for clothing and up 12.7%
, according to the Consumer Price Index released last week Statistical Center of Montenegro, Monstat.
After solid fuels, prices in Montenegro rose the most in sales of various vegetables, by almost 7%. They were followed by bread and cereals, the value of which rose five times, followed by mineral water, soft drinks and fruit and vegetable juices, the price of which rose 3.6 percent during the year. Fruits have risen by 3%, meat by 2.6%, and the price of sugar, jam, honey, chocolate and sweets has increased by 1.4% over the last 12 months.
Consumer price indices, according to Monstat, are one of the most important macroeconomic indicators of the country and the basis for making various economic and financial decisions. Since January 2009, this data has been used as the official inflation indicator in Montenegro.
“The Consumer Price Index is used to adjust wages and income of the population in accordance with collective agreements, as well as to regulate pensions and social benefits. It is also used to deflate individual macroeconomic aggregates in national accounts statistics and for other purposes. The Consumer Price Index is defined as a measure of the average change in prices for a fixed consumer basket of essential goods and services that Montenegrin citizens buy to meet their needs,” Monstat said.
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