Macedonia’s annual inflation rate rose to 1.4 percent in March 2019 from 1.1 percent in the previous month. It was the highest inflation rate in five months, as prices increased further for food & non-alcoholic beverages (2.9 percent vs 2.3 percent in February); furniture & household equipment (1.2 percent vs 0.9 percent); recreation & culture (2.2 percent vs 1.6 percent); and alcoholic beverages, tobacco & narcotics (8.6 percent vs 4.8 percent). Also, cost of for transport fell less (-2.8 percent vs -3.7 percent). Meanwhile, prices continued to decline for housing & utilities (-0.1 percent, the same as in February); clothing & footwear (-1.7 percent vs -0.1 percent); and communication (-1.3 percent) and dropped for miscellaneous goods & services (-0.1 percent vs 0.8 percent). Additionally, inflation was steady for restaurant & hotels (1.9 percent, the same as in February); and health (2.9 percent). On a monthly basis, consumer prices went up 0.4 percent. Inflation Rate in Macedonia averaged 1.73 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 1.60 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 1.90 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.