Inflation rate in Macedonia decreased to 1.2% in November of 2018 from 1.5% in each of the previous three months. It was the lowest inflation rate since January, as prices slowed for transport (4.7% from 8.4% in October); clothing & footwear (0.1% from 0.2%); furniture & household equipment (0.2% from 0.9%); miscellaneous goods & services (1.1% from 1.2%); alcoholic beverages & tobacco (4.8% from 5.1%); communication (0.6% from 0.9%) and recreation & culture (2.3% from 3.5%). On the other hand, cost rose faster for food & non-alcoholic beverages (0.5% from 0.4%); housing & utilities (0.2% from a flat reading) and health (2.2% from 1.4%). Meanwhile, inflation was steady for restaurant & hotels (2.5%, the same as in October) and prices continued to decline for education (-0.3%, the same as in October). On a monthly basis, consumer prices went down 0.2%, after a 0.3% gain in October. Inflation Rate in Macedonia averaged 1.75 percent from 2006 until 2018, 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 1.70 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 2.10 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.