Consumer Basket in Montenegro for June was 641,6 euros

Consumer Basket in Montenegro for June was 641,6 euros

According to Montenegro Institute for Statistics (Monstat) the minimum consumer basket in July amounted to EUR 641.6, which is 0.2 percent less than in June.

“Out of the total value of the minimum consumer basket, expenditure on food and non-alcoholic beverages amounted to 270.9 euros, which is 0.4 percent less than in June”, according to Monstat.

Statisticians said expenditures on non-food products and services amounted to 370.7 euros, which is 0.1 percent less than in June.

The minimum consumer basket refers to household consumption, which includes food and non-food products and services, which enable the maintenance of the life and working ability of household members.

The minimum consumer basket complies with the minimum recommendations of the World Health Organization (WHO) and the USDA Food Guide 2010 for a minimum calorie intake of 2.21 thousand calories per person per day.

“The value of the minimum consumer basket is based on data from the Household Budget Survey and the World Bank (WB) recommendations. The value of the minimum consumer basket for a four-person household is the minimum monthly expenditure related to food and non-alcoholic beverages and non-food products and services”, Monstat says.

For calculating minimum expenditures related to food and non-alcoholic beverages, average prices for the current month and monthly quantities in kilograms for a four-member household are used.

Consumer price indices (CPIs) are used to calculate the value of a basket of non-food products and services./ibna