Decline in consumer prices slows in Montenegro as IMF forecasts return to inflation

Decline in consumer prices slows in Montenegro as IMF forecasts return to inflation
By Valentina Dimitrievska in Skopje August 16, 2016

Montenegro's consumer prices fell by 0.6% y/y in July, slowing from a 1% y/y decrease in the previous month, statistics office data showed on August 16.

The International Monetary Fund (IMF) has forecast that CPI inflation will reach 1.4% y/y in 2016, the same level as in 2015. However, consumer prices declined by 0.5% y/y in the first seven months of the year.

In July, prices of tobacco and beverages rose the most, by 2.7% y/y, followed by clothing prices, which moved up by 2.5% y/y, data showed.

At the same time, transport prices again fell the most - by 6.6% y/y.

Prices of food and non-alcoholic beverages went down 0.6% y/y.

On a monthly comparison basis, the CPI was flat in July, after edging up 0.1% m/m in June, mainly due to rising prices of restaurants and hotels.

Data

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