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.