Montenegro Inflation Rate Slows Further in July


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Montenegro's consumer price index (CPI) increased by 6.9% year-on-year in July, after rising by an annual 7.5% in June, the Podgorica-based Statistical Office of Montenegro (Monstat) said on Tuesday.

This marked the lowest reading since February last year. In July, annual inflation was mostly fueled by an increase in the prices of services at restaurants and hotels, by 12.1%.

Prices for food and non-alcoholic beverages rose by 10.1%, and the same for furniture, household equipment, and household maintenance added 9.8%.

In addition, prices of clothing and footwear went up by 8.3%, and costs for housing, water, electricity, gas and other fuels advanced by 6.9%.

Prices for healthcare and alcoholic beverages and tobacco also increased, by 6% respectively. On a monthly basis, consumer prices rose by 1% in July, after a 0.9% gain in the previous month.

Furthermore, the EU harmonized CPI was up 7.8% on the year, compared to 8.2% in the previous month.

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