The annual inflation rate in Macedonia edged up to 3 percent in May of 2021, from 2.7 percent in the previous month. This was the fastest increase since July of 2013, due to low base effects from the early months of the pandemic outbreak. Main upward pressure came from cost of clothing & footwear (0.9 percent vs -0.6 percent in April) and health services (3.3 percent vs 3.1 percent) while inflation slowed for transports (9.6 percent vs 10.6 percent), food & non-alcoholic beverages (1.9 percent vs 4.1 percent) and housing & utilities (4.3 percent vs 4.4 percent). On a monthly basis, consumer prices grew by 0.7 percent, following a 0.7 percent increase in the month prior. source: State Statistical Office of the Republic of Macedonia
Inflation Rate in Macedonia averaged 1.64 percent from 2006 until 2021, 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 June of 2021.
Inflation Rate in Macedonia is expected to be 1.90 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 2.20 percent in 2022 and 1.60 percent in 2023, according to our econometric models.