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Sharp rise in food prices in Montenegro

In August Montenegro managed to come out of deflation and for the first time it recorded minimum positive growth at monthly level, latest data of the Statistical Office of Montenegro reveals.

Consumer prices registered in the period from January to August were by 0,3 % higher this year.

However, consumer prices representing inflation measure as indicator of economic trends in a state, suffered a slump.

“Prices of goods and services of personal expenditure measured by consumer price index were 0,2 % lower in August, compared to the same month last year”.

Inflation rates were mostly impacted by: prices of milk, cheese and eggs, meat, solid fuels, devices, personal hygiene products, household maintenance products and accommodation services.

From August last year to August this year, solid fuels such as wood and coal have recorded the largest increase in prices (9,6%). Bread and cereals recorded 5% increase, meat recorded 2,6% increase, vegetables – 5,7% increase and price of fruit went up by 5,3%.

As far as reduction in prices is concerned, telephones recorded 14,9% price reduction. Price of clothes price went down by 11,7%.

Cigarettes, accommodation services, fuel and electricity prices slumped as well.

 

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