Montenegro Inflation Up by 3.9 per cent

19 December 2007 Podgorica_Montenegro’s inflation rate in the first 11 months of 2007, measured by retail price growth, was 3.9 per cent higher than in the same period last year, the Montenegrin statistics office, Monstat, announced.

In November, retail prices were one per cent higher than in October, and 7.8 per cent higher than in December last year.

Monstat said the increase was mainly the result of an increase in prices of industrial products.

In November, prices of industrial products were 1.3 per cent higher than in October, agricultural products 0.2 per cent higher, and beverages 0.1 per cent higher, while the price of services remained unchanged.

Industrial production in November was 4.4 per cent lower than in October, but 5.8 per cent higher than in November 2006.

“Industrial production in the first 11 months of 2007 was 0.7 per cent lower than in the same period last year,” Monstat said.

The average net wage in November was 3.1 per cent higher than in October and amounted to 366 Euros. The average net wage in the first 11 months of 2007 was 334 Euros, or 18.9 per cent higher than in the same period last year.

The lowest net wage was in the fisheries sector, at 141 Euros, and the highest was in brokerage firms, at 759 Euros. (Birn)

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