The price level for consumables and services in Montenegro for the year 2023 was reported to be 64% of the EU-27 average, according to the final data from Eurostat as part of the Purchase Power Parity initiative.

In 2023, the price levels for consumable goods and services showed substantial variation across the European Union member states.

According to Eurostat data released by Monstat, Denmark had the highest price level at 143% of the EU-27 average, followed closely by Ireland at 142%, Luxembourg at 135%, and the Netherlands at 118%. In contrast, Hungary recorded the lowest prices with 76%, followed by Poland at 66%, and Romania and Bulgaria at 60%.

Among the regional countries, Croatia has the highest level of consumer goods and services at 76% of the EU-27 average, followed by Serbia and Albania at 68% and 66%, respectively. Bosnia and Herzegovina’s cost of consumables and services stands at 58% of the European average, while North Macedonia’s is 52%.

Switzerland ranks as the most expensive country for the three categories of products and services analyzed: food and non-alcoholic beverages, clothing, and restaurants and hotels.

Iceland, on the other hand, is where audio-visual equipment and data processing products, along with alcoholic beverages and tobacco, command the highest prices.

The study found that motor vehicles are most expensive in Turkey, which paradoxically offers the lowest price level index for food and soft drinks.

Clothing, audio-visual equipment, data processing equipment, alcoholic beverages and tobacco, motor vehicles, as well as restaurants and hotels, are notably cheap in North Macedonia.

Montenegro’s clothing price level index is at 99, while the overall index stands at 102. This index is considerably lower in North Macedonia at 78, Turkey at 30, and in certain EU countries such as Hungary at 88, Bulgaria at 82, and Spain at 81.

For food and soft drinks, Montenegro’s prices are at 87% of the European Union average, which is higher than in Bosnia and Herzegovina (85%) and North Macedonia (68%), but lower compared to Croatia, which is at 102%, Serbia at 96%, and Albania at 91% of the EU-27 average.

In Montenegro, the price level index for audio-visual equipment and data processing measures 106, while the index for other products is lower at 92.

In the region, the lowest price levels for the Restaurants and Hotels category are observed in North Macedonia and Albania at 47% and 49% of the EU average, respectively, with Montenegro sitting at 63% compared to the EU average.