Category: Economic statistics
Area: Prices
Survey / data collection: Harmonised Consumer Price Index

MONSTAT metadata
Reference metadata
  1. Contact
  2. Metadata update
  3. Statistical presentation
  4. Unit of measure
  5. Reference period
  6. Institutional mandate
  7. Confidentiality
  8. Release policy
  9. Frequency of dissemination
10. Accessibility and clarity
11. Quality management
12. Relevance
13. Accuracy and reliability
14. Timeliness and punctuality
15. Coherence and Comparability
17. Data revision
18. Statistical processing
19. Comment

Note: For any question on metadata, please contact MONSTAT metadata support.

                                                                                     1. Contact                                                                           Vrh
1.1. Contact organization: Statistical Office of Montenegro - MONSTAT
1.2. Contact organization unit: Department for price statistics and foreign trade
1.2. Contact organization unit: IV Proleterske 2, 81000 Podgorica, Montenegro

                                                                                      2. Metadata update                                                                       Top
2.1. Metadata last certified:31 August 2022
2.2. Metadata last posted:14 December 2022
2.3. Metadata last update:31 August 2022

                                                                                3. Statistical presentation                                                                  Top
3.1. Data description:Harmonised indices of consumer prices (HICPs) give comparable measures of inflation for Europe, as well as assess monetary value in the euro area. Every EU member country is obliged to produce the HICP.
3.2. Classification system:COICOP 1999; ECOICOP
3.3. Sector coverage:HICPs cover the whole household sector, more precisely the goods and services that are acquired by households (domestic concept).
3.4. Statistical concepts and
The Harmonized Index of Consumer Prices (HICP) measures changes in the level of retail prices of goods and services from the point of view of the expenditure structure, which consumers (domestic and foreign) intend for final consumption in the territory of Montenegro (domestic concept). The HICP is used for monitoring the movement of retail prices in EU Member States, comparing inflation rates between Member States and as the official rate of the European Central Bank (ECB) at ensuring price stability in the Economic and Monetary Union (EMU). Elementary aggregates represent products at the lowest level of aggregation i.e. products in all sales facilities in one geographical location. The monthly inflation rate (m/m-1) measures the change in the average prices of the current month compared to the average prices of the previous month. The annual inflation rate (m/m-12) measures the change in the average prices of the current month compared to the average prices in the same month of the previous year. The cumulative index (rate of change) measures the change in the average prices of the current month compared to the average prices in December of the previous year. The base index (rate of change) measures the average price change in the current month compared to the average of the base year. The average annual index (rate of change) measures changes in average prices from the beginning of the year to the current month compared to the same period of the previous year (e.g. Jan-May 16/Jan-May 15). The weights used for calculation of the HICPs represent a relative share of the selected goods and services in the total household?s consumption, in domestic territory. More precisely, they represent the importance of a particular product group in total household?s consumption in a specific reference period.
3.5. Statistical unit:Each published index or rate of change refers to the 'final monetary consumption expenditure' of the whole household sector of the corresponding geographical entity. Reporting units covers all types of retail shops (stores of all types and sizes, green markets, craft workshops, public service companies, catering, sports and cultural-educational facilities and the like) which have the highest turnover. The observation units are retail prices of final consumption products and services, which have a significant share in the total consumption of the average consumer. These products and services make the basket of goods and services, which includes mainly products and services, whose share in total consumption of the population exceeds 0.1%.
3.6. Statistical population:The target statistical universe is the 'household final monetary consumption expenditure' (HFMCE) within the economic territories of the countries compiling the HICP. HICP covers the consumption of all households at the national territory (residents and non-residernts).
3.7. Reference area:The HICP refers to the whole territory of Montenegro.
3.8. Time coverage:HICPs for Montenegro are available from January 2011.
3.9. Base period:The index reference period is 2015=100.

                                                                                      4. Unit of measure                                                                        Top
Index numbers, percentageg, rates.

                                                                                     5. Reference period                                                                       Top

                                                                                  6. Institutional mandate                                                                    Top
6.1. Legal acts and other
The Law on Official Statistics and Official Statistical System (Official Gazette of Montenegro No 18/12 and 47/19) defines provisions for collection, processing, and dissemination of data. The Law provides to the Statistical Office legal powers to collect and access the data necessary for the implementation of Programme and Annual Plan. The Law gives a priority to the use of administrative data and right of access to individual data that are a result of survey of other official statistical producers. As an annex to legal provisions, Statistical Office has signed several memoranda on cooperation with administrative data providers.
6.2. Data sharing:Signed agreement on cooperation with the official statistical producers: 1. Ministry of Finance 2. Central Bank of Montenegro 3. Trilateral agreement (MONSTAT, Ministry of Finance, and Central Bank of Montenegro) International institutions: 1. EUROSTAT 2. UN organizations 3. IMF 4. World Bank

                                                                                        7. Confidentiality                                                                          Top
7.1. Confidentiality - policy:Articles 53-60 of the Law on Official Statistics and Official Statistical System (Official Gazette of Montenegro No 18/12 and 47/19) provide a framework for protection, use, and transmission of confidential data. Statistical office has produced two comprehensive rulebooks that cover the procedures for individual data protection as well as keeping individual records. With purpose of the meeting legal framework on functioning of security system and statistical confidentiality there was adopted the Rulebook on Keeping Statistical Data by which Manner, Time, Technical Conditions and Organization of Statistical Data Storage to Prevent Their Destroying, Misappropriation, and Unauthorized Use is Regulated as well as the Rulebook on Contents and Manner of Keeping Records on Users of Individual Statistical Data by which contents and manner of keeping records on users of individual statistical data is regular. Pursuant to the Article 59, an access to the confidential data is limited to persons performing duties and tasks of official statistical producer and up to the stage the data are necessary for official statistical production. Persons that performs duties and tasks within official statistical producers must sign the statement on respecting the principle of confidentiality. Law on Official Statistics and Official Statistical System is aligned with the Regulation No 223/2009 and the Regulation (EU) 2015/759 from 29 April 2015 that also regulate confidentiality provisions. The Government of Montenegro adopted the Statement on Commitment of Confidence in Official Statistics (Commitment of Confidence).
7.2. Confidentiality - data
Statistical Office staff members sign confidentiality statement on respecting data confidentiality, and for any deliberate violation of statistical data confidentiality, important legal measures are envisaged. Article 54 of the Law on Official Statistics and Official Statistical System of Montenegro (Official Gazette of the Republic of Montenegro No 18/12) regulates that data collected, processed, and stored for purpose of official statistics shall be considered confidential if they allow reporting units to be identified, either directly or indirectly, thereby disclosing individual information. The reporting unit directly identified means the identification of a reporting unit from its name or address, or from assigned identification number. Indirect identification means the identification of a reporting unit by the deduction, having into account all measures to identify a reporting unit. Data for the use of which reporting units gave explicit approval shall not be considered confidential.

                                                                                        8. Release policy                                                                         Top
8.1. Release calendar:The Law on Official Statistics and Official Statistical System (Official Gazette of Montenegro No 18/12) stipulates that official statistical producers prepare, update, and publish Statistical Data Release Calendar. It is published on the website of Statistical Office not later than 20 December for the next year, for all official statistical producers that includes date of releasing statistical data. Any change in date of releasing in the Calendar is published in advance in accordance with the Procedure on Unplanned Revisions.
8.2. Release calendar - access:
8.3. User access:General aim of official statistical producer is to meet the needs of users, and to make an access to statistical data to users in an understandable manner, simultaneously and under the same conditions. Statistical Office is obliged to produce and disseminate official statistics in objective, transparent and professional manner, so that all users are equally treated.

                                                                            9. Frequency of dissemination                                                             Top
Harmonised consumer price indices are produced monthly.

                                                                                  10. Accessibility and clarity                                                                Top
10.1. News release:The data are available in form of monthly releases published at the official website:
10.2. Publications:Statistical Office publishes the following regular publications: 1. Statistical Yearbook, 2. Montenegro in figures, 3. Monthly statistical review. In addition to the above regular ones, Statistical Office publishes also additionally publications. Some of the most important additional publications are as it follows: 1. Women and Men in Montenegro, 2. The most often used statistical data All publication published by Statistical Office are available at the following link:
10.3. Online database:Releases on HICP are present at the website of MONSTAT, part Prices from 1 January 2011. In part Prices, in form of Excel tables there are HICPs from January 2011, 4-digit level of aggregation.
10.4. Micro-data access:The Law on Official Statistics and Official Statistical System (Official Gazette of Montenegro No 18/12) regulates rules under which external users can obtain an access to individual data for needs of research. Article 58 defines types of scientific and research organizations that can obtain such data. Providing individual data without identifier is possible only upon a written request of scientific and research institutions, with purpose of performing scientific and research activities as well as international statistical organizations and statistical producers from other countries. Research entity signs the agreement with Statistical Office, and it signs the statement on respecting the confidentiality principle. Official statistical producers keeps a separate records on users and purpose of using the statistical data given to these users.
10.5. Other:Not available.

10.6. Documentation on methodology:
Compendium of HICP reference documents, 2013 edition, is available on Eurostat's website:
10.7. Quality documentation:The Law on Official Statistics and the Official Statistical System (Official Gazette of Montenegro No. 18/12 and 47/19) defines the commitment to quality, which ensures that producers of official statistics in Montenegro work and cooperate in accordance with international principles of quality of the statistical system. In accordance with the ESS Quality Declaration, Article 338 of the Treaty on the Functioning of the EU, Regulations 759/2015 and 223/2009 and the European Statistics Code of Practice, the following documents are adopted: 1. Quality Strategy of the Statistical Office 2. Guide for the implementation of the Quality Strategy in the Statistical Office; 3. Implementation plan

                                                                                  11. Quality management                                                                 Top
11.1. Quality assurance:Statistical Office has chosen the implementation of elements of TQM (Total Quality Management) model that foster development and improvement of functioning of: - Institution, - Official statistical result production, and - Individual. Within middle-term deadline, Statistical Office has chosen the TQM implementation through the following objectives: 1. Strong commitment to users and other interested parties, 2. Quality statistical processes and products, 3. Professional orientation of staff members, 4. Constant improvements, 5. Reduction of overburden of reporting units. Collected price data are checked and edited in several steps. First, the price collectors' notes and signal indications regarding model changes, missing prices etc. are reviewed. Checks are made for missing or duplicate price records. Then, lists for editing are iteratively produced and reviewed to check for unexpectedly deviating prices, etc. This is to ensure that such data are not due to mistakes in processing, and the data are edited as and when needed. The price collectors' judgmental valuations of quality changes are also reviewed in this process. There is no automatic rejection, all suspicious data are re-checked by collectors.The price collectors or outlets are contacted for further information on specific cases when necessary. Centrally collected prices are entered into the system by central office staff. Department for Price Statistics do validation, calculation and checking of the preliminary indices, comparing with the data from the previous periods. After detailed control and data analysis, the final data are prepared for publication and submitted to the supervisors for final verification.
11.2. Quality assesment:The quality of the HICP is assessed to be high considering that its concepts and methodology have been developed according to international standards and using consumer price statistics experience from all EU Member States. HICPs are considered to be sufficiently accurate for all practical purposes they are put into. Further work is ongoing to improve the quality and in particular comparability of the index.

                                                                                        12. Relevance                                                                              Top
12.1. User needs:International users: - Eurostat, - World Bank, - UN organizations, - International Monetary Fund National users: - Ministries and other public administration bodies, - Local government, and - Other local government bodies. - Central bank, - Non-governmental organizations, - Students, - Researchers, - Media.
12.2. User satisfaction:The Statistical Office has adopted the Quality Management Strategy, the Guidebook to the Implementation of the Quality Management Strategy, as well as the Plan for the Implementation of the Quality Policy. In order to measure the degree to which fulfills obligations towards users and within the new quality policy, the Statistical Office conducted User satisfaction survey. The results of the survey are available on the Statistical Office website, link:
12.3. Completeness:All national requirements are fullfilled. Considering the international requirements, more precisely the requirements of EUROSTAT, the Statistical Office produces 3 of 4 required datasets. We are currently not submitting data for the harmonized index of consumer prices in the constant tax rate, which is experimentally calculated for the period from 2010 to 2015.

                                                                                  13. Accuracy and reliability                                                              Top
13.1. Overall accuracy:The accuracy of HICP is generally considered to be high. The accuracy of source data is monitored by assessing the methodological soundness of price and weight sources and the adherence to the methodological recommendations. There is a variety of data sources both for weights (National Account data, Household Budget Survey data, etc.) and prices (visits to local retailers and service providers and central collection via mail, telephone, e-mail and the internet are used). The type of survey and the price collection methods ensure sufficient coverage and timeliness. The outlets, from which prices are collected, are chosen to represent the existing trade and services network and they are based usually on three main criteria: Popularity with consumers, significant turnover from consumer sales and availability of goods and services included in the HICP basket. All the private households in the economic territory of the country are covered, whether resident or not and irrespective of their income (domestic concept).
13.2. Sampling error:The survey is not based on a random sample, so we cannot use the classic approaches to assess the sampling error. The methodology for calculating the precision of harmonized indices of consumer prices indices is not yet completely developed because of the complexity of sample design. MONSTAT put efforts to reduce the sampling error by using the sample of consumer prices that is as large as possible, given resource constraints, models that optimize the allocation of resources by indicating the number of prices that should be observed in each municipality and each item category, in order to minimize the variance of the all items index.
13.3. Non-sampling error:The sample defined for collecting consumer prices is not random, but chosen with a purpose of satisfying specific objectives. The basic principle of sample selection has been adopted with the aim of ensuring representativeness of consumer behavior in terms of the coverage of the most frequently purchased products, the most frequently visited outlets and the best-selling products. For the HICPs non-sampling errors are not quantified. MONSTAT puts efforts to reduce non-sampling errors through continuous methodological improvements and survey process improvements such as computer assisted price collection, which can help avoiding coding and typing errors.

                                                                              14. Timeliness and punctuality                                                          Top
14.1. Timeliness:Data are published on the date defined by Statistical Release Calendar in form of regular monthly release.
14.2. Punctuality:HICP data are published in accordance with the Statistical Release Calendar for 2021.

                                                                                      15. Coherence and Comparability                                                                          Top
15.1. Comparability -
HICP is produced based on HICP minimum standards. Requirements of EU regulations harmonizing HICP definitions and classifications have been implemented into Montenegrin HICP. There is some difficult areas which can be improved (particularly quality adjustment) in order to further improve the comparability. Definitions and classifications have been harmonised in a series of legal acts that have resolved conceptual disparities. HICPs are produced based on minimum standards, which may be applied with some flexibility as long as the effect on the value of the indicator remains below 0.1%.
15.2. Comparability over time:HICP data are considered to be comparable over time. MONSTAT has been produced HICP data from January 2011 and are available on website, within section Data.

15.3. Coherence - cross
Differences between the HICP and national CPI Different population coverage: The HICP covers the consumption expenditure of non-residents and institutional households within the economic territory of the country, while they are not included in the national CPI. Different data sources for the calculation of weights: The main data source for the HICP weights is the National Accounts data, while the main data source for the CPI weights is the Household Budget Survey.
15.4. Coherence - internal:HICPs are internal coherent. Higher level aggregations are derived from detailed indices according to well-defined procedures.

                                                                                        17. Data revision                                                                          Top
17.1. Data revision - policy:Statistical Office has adopted the revision policy and it is available on the website:
17.2. Data revision - practice:The data are published as final and are not subject to any revision (unless an error or mistake is found), a fact which is noted in the publications. Major changes in the methodology (classification changes, index reference period, etc.) are announced in the frame of montlhy release Harmonised Index of Consumer Prices at the time the change is introduced.

                                                                                 18. Statistical processing                                                                 Top
18.1. Source data:The selection of weights: Weights are structure of household consumption obtained on the basis of NA data. Selection of shops: Criteria for selection of number and type of shops in one town are: -Type of product or service for which prices are collected -Number of population -Turnover achieved -Price balance of the same product in different shops -Continuous supply of goods in shop -Consumer's habit -Location Number of population and product type are the main criteria for selection of number of shops by towns. Due to permanent presence in the field and facing real situation, price collectors, in cooperation with the Price Statistics Department, will take a final decision on selection of collecting places. Selection of shops for price collection is updated every year. Selection of products: The list of products for which the prices are collected is uniform for entire Montenegro. A final list for price collection is defined by Statistical Office, i.e. Price Statistics Department, after the consultation with price collectors, up to the end of November at the latest. Price collector selects a product that match to the product description from the product list. If in a shop there are several different products that correspond to the appropriate description, it is selected one that is sold the most in longer time period. Due to this, it is very important that when selecting a product, a sale person is consulted. When a product is selected for which the price will be collected, it is unchanged during an entire year.
18.2. Frequency of data
For the purposes of calculation of the HICP, prices are collected once a month in the period from the 3rd to 25th of the month, except for the prices of fuel which are collected on a daily basis.
18.3. Data collection:Price data are collected on a monthly basis for selected goods and services, collected by engaged interviewers in 5 municipalities: Podgorica, Niksic, Bijelo Polje, Bar and Budva. A certain number of prices is collected at the centralized level in the Price Statistics Department. Collection methods are different and depend on type of product or service (phone interview, Internet or special questionnaires).
18.6. Adjustment:During a year, price adjustments due to quality changes are most frequently made for cars, PCs, major household appliances, clothing, and technical products. The following methods are used: - Explicit methods Direct price comparison: e.g. clothing - as required Option pricing: new cars - as required Judgmental QA: e.g. clothing, cars - as required Package size adjustment: e.g. food and medicaments Mixed approaches: - as required - Implicit methods Overlap: e.g. audio visual goods - as required Bridge overlap: e.g. PCs, technical products, household appliances - as required.


                                                                                           19. Comment                                                                             Top