Consumer Prices in Macedonia increased 1.9 percent year-on-year in April 2019, quickening from a 1.4 percent rise in the previous month. It was the highest inflation rate since February 2018, as prices rose faster for food and non-alcoholic beverages (3.2 percent vs 2.9 percent); furniture & household equipment (1.4 percent vs 1.2 percent) and recreation & culture (3.7 percent vs 2.2 percent) while cost of transport rebounded (1.1 percent vs -2.8 percent). In contrast, prices continued to decline for housing & utilities (-0.1 percent, the same as in March); clothing & footwear (-1.3 percent vs -1.7 percent); miscellaneous goods & services (-0.2 percent vs -0.1 percent) and communication (-1.8 percent vs -1.3 percent) while cost for restaurants & hotels increased at a softer pace (1.8 percent vs 1.9 percent). In addition, health inflation was steady (at 2.9 percent). On a monthly basis, consumer prices went up 0.8 percent, following a 0.4 percent rise in March. 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.