The annual inflation rate in Macedonia rose to 2.1 percent in October of 2020 from 1.9 percent in the previous month. It was the highest inflation rate since December 2017, as prices advanced further for food & non-alcoholic beverages (3.5 percent vs 3.1 percent in September); health (1.4 percent vs 1.3 percent); and alcoholic beverages & tobacco (7.8 percent vs 4.5 percent). On the other hand, cost eased for housing & utilities (4.6 percent vs 4.7 percent); restaurants & hotels (1.8 percent vs 2.3 percent); and miscellaneous good & services (3.1 percent vs 3.5 percent). Also, cost of recreation & culture dropped (-0.4 percent vs 0.5 percent) and prices continued to fall for transport (-7.2 percent vs -6.5 percent) and clothing & footwear (-0.1 percent, the same as in September). On a monthly basis, consumer prices went up 0.1 percent, rebounding from a 0.2 percent decline in the prior month. source: State Statistical Office of the Republic of Macedonia

Inflation Rate in Macedonia averaged 1.61 percent from 2006 until 2020, reaching an all time high of 9.90 percent in June of 2008 and a record low of -2.10 percent in December of 2009. This page provides the latest reported value for - Macedonia Inflation Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Macedonia Inflation Rate - data, historical chart, forecasts and calendar of releases - was last updated on November of 2020.

Inflation Rate in Macedonia is expected to be 0.80 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Inflation Rate in Macedonia to stand at 1.30 in 12 months time. In the long-term, the Macedonia Inflation Rate is projected to trend around 1.20 percent in 2021 and 1.60 percent in 2022, according to our econometric models.

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Macedonia Inflation Rate

Actual Previous Highest Lowest Dates Unit Frequency
2.10 1.90 9.90 -2.10 2006 - 2020 percent Monthly


Calendar GMT Actual Previous Consensus TEForecast
2020-08-07 10:00 AM Jul 1.3% 1.7% 1.5%
2020-09-07 10:00 AM Aug 1.5% 1.3% 1.2%
2020-10-07 10:00 AM Sep 1.9% 1.5% 1.2%
2020-11-09 11:00 AM Oct 2.1% 1.9% 2%
2020-12-07 11:00 AM Nov 2.1%
2021-01-08 12:30 PM Dec
2021-02-15 11:00 AM Jan
2021-03-09 11:00 AM Feb


News Stream
Macedonia Inflation Rate Rises to Near 3-Year High in October
The annual inflation rate in Macedonia rose to 2.1 percent in October of 2020 from 1.9 percent in the previous month. It was the highest inflation rate since December 2017, as prices advanced further for food & non-alcoholic beverages (3.5 percent vs 3.1 percent in September); health (1.4 percent vs 1.3 percent); and alcoholic beverages & tobacco (7.8 percent vs 4.5 percent). On the other hand, cost eased for housing & utilities (4.6 percent vs 4.7 percent); restaurants & hotels (1.8 percent vs 2.3 percent); and miscellaneous good & services (3.1 percent vs 3.5 percent). Also, cost of recreation & culture dropped (-0.4 percent vs 0.5 percent) and prices continued to fall for transport (-7.2 percent vs -6.5 percent) and clothing & footwear (-0.1 percent, the same as in September). On a monthly basis, consumer prices went up 0.1 percent, rebounding from a 0.2 percent decline in the prior month.
2020-11-09
Macedonia Inflation Rate Highest in 1-1/2-Years
Annual inflation rate in Macedonia increased to 1.9 percent in September of 2020 from 1.5 percent in August, reaching the highest since April of 2019. Main upward pressure came from cost of food & non-alcoholic beverages (3.1 percent vs 2.5 percent); housing & utilities (4.7 percent vs 4.5 percent in August); and alcoholic beverages & tobacco (4.5 percent vs 4.4 percent). In contrast, inflation slowed for restaurants & hotels (2.3 percent vs 2.8 percent); recreation & culture (0.5 percent vs 1.6 percent) and was steady for health (1.3 percent, the same as in the previous month). Prices went down for transport (-6.5 percent vs -7 percent) and clothing & footwear (-0.1 percent vs 1.4 percent). On a monthly basis, consumer prices declined 0.2 percent, following a 0.5 percent rise in August.
2020-10-07
Macedonia August Inflation Rate Quickens to 1.5%
The annual inflation rate in Macedonia rose to 1.5 percent in August of 2020 from 1.3 percent in the previous month. Main upward pressure came from prices of housing & utilities (4.5 percent vs 0.3 percent in July); alcoholic beverages & tobacco (4.4 percent vs 4.3 percent); restaurants & hotels (2.8 percent vs 2.4 percent); recreation & culture (1.6 percent vs 0.4 percent) and health (1.3 percent vs 0.3 percent). On the other hand, inflation slowed mostly for food & non-alcoholic beverages (2.5 percent vs 3.6 percent), while cost continued to fall for transport (-7 percent vs -7.2 percent) and clothing & footwear (-1.4 percent vs -1.6 percent). On a monthly basis, consumer prices inched up 0.5 percent, following a 0.2 percent decrease in the prior month.
2020-09-07
Macedonia Inflation Rate Slows to 1.3% in July
The annual inflation rate in Macedonia decreased to 1.3 percent in July of 2020 from 1.7 percent in the previous month. Cost slowed for food & non-alcoholic beverages (3.6 percent vs 5.5 percent in June); health (0.3 percent vs 0.7 percent) and recreation & culture (0.4 percent vs 0.8 percent). Also, prices continued to fell for transport (-7.2 percent vs -8.2 percent); clothing & footwear (-1.6 percent vs -2.3 percent) and communication (-0.1 percent vs -0.4 percent). Meantime, inflation was steady for housing & utilities (at 0.3 percent). On the other hand, cost advanced faster fir alcoholic beverages & tobacco (4.3 percent vs 3.9 percent); restaurant & hotels (2.4 percent vs 1.6 percent) and miscellaneous goods & services (3.7 percent vs 2.9 percent). On a monthly basis, consumer prices went down 0.2 percent, after increasing 0.8 percent in June.
2020-08-07

Macedonia Inflation Rate
In Macedonia, the most important category in the consumer price index is Food and Non-Alcoholic Beverages (40.9 percent of total weight). Housing and Utilities accounts for 13.8 percent; Transport for 7.9 percent; Clothing and Footwear for 7 percent; Restaurants and Hotels for 5.5 percent and Furniture, Household Goods and Maintenance for 5.4 percent. Miscellaneous Goods and Services; Alcoholic beverages and Tobacco ; Health; Communication; Recreation and Culture and Education account for the remaining 19.5 percent of total weight.