Total value of minimum consumer basket for June 2020 amounted to €644,50. Expenditure on food and non-alcoholic beverages amounted to €279,40, while expenditure on non-food products and services amounted to €365,10, latest data provided by the Statistical Office of Montenegro (MONSTAT) shows.
In June, Montenegrin families spent most money on buying milk, cheese and eggs (€71,90), meat (€60,50) and vegetables (€45,20). Although it is advised that fish should be eaten as often as possible, on the basis of the data, citizens disagree. Average Montenegrin family spent only €3,80 on fish in June.
Total value of minimum consumer basket in June recorded a 0,2% increase compared with May.
How is value of minimum consumer basket calculated?
Minimum consumer basket refers to the consumption of households which includes food and non-food products and services enabling maintenance of life and working ability of household members. The minimum consumer basket complies with the minimum recommendations of the World Health Organization (WHO) and the USDA Food Guide 2010 for a minimum calorie intake of 2.21 thousand calories per person per day.
“The value of the minimum consumer basket is based on data provided by the Household Budget Survey and the World Bank (WB) recommendations. The value of the minimum consumer basket for a four-person household is the minimum monthly expenditure related to food and non-alcoholic beverages and non-food products and services”, Monstat says.
For calculating minimum expenditures related to food and non-alcoholic beverages, average prices for the current month and monthly quantities in kilograms for a four-member household are used. Consumer price indices (CPIs) are used to calculate the value of a basket of non-food products and services.
