The union consumer basket for the last quarter of the previous year reached 1.97 thousand euros, marking a decline of 1.5 percent on a quarterly basis but a 6.49 percent increase on an annual basis. This information was provided by the Center for Education, Information, and Union Research of Montenegro.

In the fourth quarter of last year, the union consumer basket (SPK) was 30 euros lower than in the third quarter, when it was approximately two thousand euros, as reported by Mina.

According to the Center for Education, Information, and Union Research, the SPK for the fourth quarter of 2023 was 1.85 thousand euros, reflecting an increase of 120 euros or 6.49 percent compared to the previous year.

“Variations were observed in seven categories of expenses, including food products, imputed rent, current household maintenance, housing and utilities, personal hygiene and health care, education and culture, as well as leisure activities,” stated the Center’s announcement.

The Center explained that this was the fourth SPK calculated for a four-member household, covering the months of October, November, and December.

The SPK composition, as per the methodology, includes ten categories of expenses, with three categories reporting changes compared to the previous or third quarter.

The expenses for food products saw a decline of ten euros or 1.65 percent, indicating that the household allocated 595 euros for these needs, down from 605 euros in the third quarter.

“The decrease in food product prices was influenced by the pricing decisions regarding Essential Goods for Life and Health, but this did not reflect in the SPK presentation for the third quarter of the previous year,” noted the Center.

They also mentioned that considering the significant number of food items included in the SPK, expectations for a substantial reduction in prices of these products, as well as the corresponding expenses, have not been met.

“Expenses for current household maintenance increased by five euros or 4.76 percent, totaling 110 euros compared to 105 euros in the previous quarter. This rise in costs is concerning, especially as many SPK items were also subject to price control measures,” they added.

During the observed period, expenses for education and culture, as anticipated, decreased by 25 euros or 19.23 percent due to the lack of need for additional funding.