Consumer prices in Macedonia increased 0.4 percent year-on-year in December of 2019, after a 0.1 percent fall in November. It is the highest inflation rate since August, as transport cost rebounded (0.6 percent vs -6.8 percent in November). On the other hand, prices slowed for food & non-alcoholic beverages (0.9 percent vs 1.1 percent) and furniture & household equipment (0.2 percent vs 1.1 percent) while cost fell for housing & utilities (-0.3 percent vs -0.1 percent); clothing & footwear (-2.8 percent vs -2.5 percent) and restaurant & hotels (-0.2 percent vs a flat reading). On a monthly basis, consumer prices rose 0.1 percent, rebounding from a 0.1 percent drop in the prior month. Inflation Rate in Macedonia averaged 1.66 percent from 2006 until 2019, 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.

Inflation Rate in Macedonia is expected to be 1.00 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 2.20 in 12 months time. In the long-term, the Macedonia Inflation Rate is projected to trend around 2.40 percent in 2020, according to our econometric models.

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Macedonia Inflation Rate

Actual Previous Highest Lowest Dates Unit Frequency
0.40 -0.10 9.90 -2.10 2006 - 2019 percent Monthly


Calendar GMT Actual Previous Consensus TEForecast
2019-10-07 10:00 AM Sep 0.3% 0.8% 0.9%
2019-11-07 11:00 AM Oct -0.2% 0.3% 0.1%
2019-12-10 11:00 AM Nov -0.1% -0.2% -0.1%
2020-01-08 12:30 PM Dec 0.4% -0.1% 0.1%
2020-02-14 11:00 AM Jan 0.4% 0.5%


News Stream
2019-12-10
Macedonia Deflation Eases to 0.1% in November
Consumer prices in Macedonia dropped 0.1 percent year-on-year in November 2019, following a 0.2 percent fall in the previous month. Prices went down less for transport (-6.8 percent from -7.1 percent in October); and clothing & footwear (-2.5 percent from -3.1 percent). Additionally, prices continued to fall for housing & utilities (-0.1 percent, the same as in October); communication (-1.8 percent) and education (-0.3 percent). Also, cost of food & non-alcoholic beverages rose further (1.1 percent from 0.9 percent). On the other hand, prices eased for furniture & household equipment (1.1 percent from 1.6 percent); health (1.5 percent from 2.6 percent); and alcoholic beverages & tobacco (at 5.1 percent). In addition, prices of restaurant & hotels were unchanged, after rising 0.1 percent in October. On a monthly basis, consumer prices decreased 0.1 percent, the same as in the prior month.

2019-11-07
Macedonia Consumer Prices Fall for 1st Time in Near 4 Years
Consumer prices in Macedonia decreased 0.2 percent year-on-year in October 2019, down from a 0.3 percent rise in the previous month. It was the first month of decline in consumer prices since December 2016, as cost fell for housing & utilities (-0.1 percent from -0.3 percent); transport (-7.1 percent from -3.5 percent); clothing & footwear (-3.1 percent from -2.5 percent); communication (-1.8 percent, the same as in September) and education (-0.3 percent, the same as in September). In addition, prices slowed for food & non-alcoholic beverages (0.9 percent from 1.1 percent); restaurant & hotels (0.1 percent from 0.6 percent) and health (2.6 percent from 3.1 percent). On the other hand, cost advanced faster for both furniture & household equipment (1.6 percent from 0.9 percent) and alcoholic beverages & tobacco (5.1 percent from 4.6 percent). On a monthly basis, consumer prices edged down 0.1 percent, following a 0.6 percent drop in September.

2019-10-07
Macedonia Inflation Rate at 3-Month Low of 0.3%
The annual inflation rate in Macedonia eased to 0.3 percent in September 2019 after being steady at 0.8 percent in the previous two months. It was the lowest inflation rate since June, as prices rose less mainly for food & non-alcoholic beverages (1.1 percent vs 1.8 percent in August). In addition, cost fell for housing & utilities (-0.3 percent vs -0.2 percent); transport (-3.5 percent vs -1.7 percent); clothing & footwear (-2.5 percent vs -2.1 percent); communication (-1.8 percent vs -1.9 percent): miscellaneous goods & services (-0.1 percent vs 0.1 percent) and education (-0.3 percent vs -0.5 percent). On a monthly basis, consumer prices decreased 0.6 percent, following a 0.3 percent rise in the previous month.

2019-09-10
Macedonia August Inflation Rate Unchanged at 0.8%
The annual inflation rate in Macedonia stood at 0.8 percent in August 2019. Prices rose further for food & non-alcoholic beverages (1.8 percent from 1 percent in July); furniture & household equipment (1.7 percent from 1 percent) and restaurant & hotels (0.6 percent from 0.4 percent). Additionally, cost of miscellaneous goods & services rebounded (0.1 percent from -0.7 percent). Meanwhile, prices slowed for recreation & culture (1.7 percent from 2.2 percent); health (3 percent from 3.2 percent); and alcoholic beverages & tobacco (4.7 percent from 5.2 percent). Also, cost of transport dropped (-1.7 percent from 1 percent) and prices declined at a faster pace for housing & utilities (-0.2 percent from -0.1 percent); clothing & footwear (-2.1 percent from -1 percent); and communication (-1.9 percent from -1.8 percent). On a monthly basis, consumer prices went up 0.3 percent, after rising 0.2 percent in July.

2019-08-07
Macedonia Inflation Rate Picks Up to 0.8% in July
Annual inflation rate in Macedonia increased to 0.8 percent in July of 2019 from 0.3 percent in the previous month. Cost advanced faster for food & non-alcoholic beverages (1 percent from a flat reading); health (3.2 percent from 2.9 percent) and recreation & culture (2.2 percent from 1.7 percent). Also, prices rebounded for transport (1 percent from -1.1 percent) and inflation was steady for furniture & household equipment (1 percent) while prices went up softer for alcoholic beverages & tobacco (5.2 percent from 5.6 percent) and restaurant & hotels (0.4 percent from 0.7 percent). On the other hand, prices continued to fall for housing & utilities (-0.1 percent from -0.2 percent); clothing & footwear (-1 percent from -0.6 percent); miscellaneous goods & services (-0.7 percent from -0.5 percent); communication (-1.8 percent from -1.6 percent) and education (-0.5 percent, the same as in June). On a monthly basis, consumer prices edged up 0.2 percent, after a 1.1 percent drop in June.

2019-07-08
Macedonia June Inflation Rate at Over 2-Year Low
The annual inflation rate in Macedonia fell to 0.3 percent in June 2019 from 1.4 percent in May. It was the lowest inflation rate since February 2017, as cost of transport dropped (-1.1 percent vs 1 percent in May) and prices of food & non-alcoholic beverages were flat (vs 2.3 percent in May). Additionally, cost eased for restaurant & hotels (0.7 percent vs 1.2 percent); furnishings & household equipment (1 percent vs 1.7 percent) and recreation & culture (1.7 percent vs 2.1 percent). Also, prices declined further for housing & utilities (-0.2 percent vs -0.1 percent); and continued to fall for clothing & footwear (-0.6 percent) and education (-0.5 percent). Meantime, cost rose at a faster pace for health (2.9 percent vs 2.8 percent) while decreased less for miscellaneous goods & services (-0.5 percent vs -0.7 percent) and communication (-1.6 percent vs -1.7 percent). On a monthly basis, consumer prices went down 1.1 percent, after a 0.5 percent gain in May.


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.

Macedonia Prices Last Previous Highest Lowest Unit
Inflation Rate 0.40 -0.10 9.90 -2.10 percent [+]
Consumer Price Index CPI 112.97 113.07 114.62 84.91 points [+]
GDP Deflator 103.60 103.50 1371.80 99.83 percent [+]
Inflation Rate Mom 0.30 -0.10 4.10 -2.80 percent [+]
Producer Prices 105.30 106.10 115.70 92.70 points [+]
Producer Prices Change 3.70 4.60 20.57 -5.50 percent [+]
Food Inflation 0.90 1.10 20.40 -6.00 percent [+]
Core Consumer Prices 113.46 112.91 113.89 89.65 points [+]
Core Inflation Rate 0.80 0.50 8.10 -2.20 percent [+]