Overall inflation in Montenegro for four years (2021-2024) was 30.5 percent, while food prices alone increased by 41 percent during that period, according to data from the Statistical Office (Monstat) based on annual measurements using the consumer price index method, which is used to measure official inflation in Montenegro.
The European Union’s statistical office, Eurostat, uses the Harmonized Index of Consumer Prices (HIPC) to compare prices between countries, which shows that in the past four years, prices in Montenegro have increased significantly more than in the eurozone, and that country has had inflation rates up to four times higher than the richest countries in Europe.
According to data from tax returns, the largest Montenegrin retail chains had a turnover growth of 40 to 50 percent in 2023 compared to 2021, and a net profit growth of 120 to 196 percent.
The net profit of retail chains grew at a rate four times higher than the growth of their revenues, Vijesti writes, noting that the data for 2024 has not yet been published.
A group of civil activists, non-governmental organizations and trade unions called on the citizens of Montenegro to boycott large retail chains on Friday, January 31, following the example of the recent boycott in Croatia and some other European countries.
