Montenegro’s annual CPI inflation slows to 3.5% in July

Montenegro’s annual CPI inflation slows to 3.5% in July

Montenegro’s annual CPI inflation slows to 3.5% in July / bne IntelliNews

By bne IntelliNews August 16, 2024

Montenegro's consumer prices index (CPI), slowed from a 4.9% year-on-year inflation in May, to 4,1% in June and 3,5% in July, statistics office data indicated (chart) on August 14.

Consumer prices in the Adriatic country started rising in January, after declining through 2023, but turned to fall in May. The European Commission has projected that inflation will remain robust this year, at 4.8%, but significantly below 8% in 2023. Next year, consumer prices are expected to expand by 4.3%.

Year-on-year, clothing prices climbed at the fastest rate in July, by 12.4%, followed by housing (6.2% y/y), prices of communications (5.2% y/y) and transport (4.3% y/y).

Month on month, consumer prices moved up 0.4%, after moving up by 0.1% in June.

The largest influences on the monthly inflation rate were the price increases in the following groups: accommodation services; fruits; meat; milk, cheese, and eggs; air passenger transport as well as tea and coffee.

In the first seven months of 2024, consumer prices went up by 4.6% y/y.

In 2023, consumer prices increased by 8.6%, according to preliminary data, down from 13% in 2022.

#Montenegro #bneChart #macro #inflation

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