Annual inflation rate in Macedonia increased to 1.9 percent in September of 2020 from 1.5 percent in August, reaching the highest since April of 2019. Main upward pressure came from cost of food & non-alcoholic beverages (3.1 percent vs 2.5 percent); housing & utilities (4.7 percent vs 4.5 percent in August); and alcoholic beverages & tobacco (4.5 percent vs 4.4 percent). In contrast, inflation slowed for restaurants & hotels (2.3 percent vs 2.8 percent); recreation & culture (0.5 percent vs 1.6 percent) and was steady for health (1.3 percent, the same as in the previous month). Prices went down for transport (-6.5 percent vs -7 percent) and clothing & footwear (-0.1 percent vs 1.4 percent). On a monthly basis, consumer prices declined 0.2 percent, following a 0.5 percent rise in August.
Inflation Rate in Macedonia averaged 1.61 percent from 2006 until 2020, 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 October of 2020.
Inflation Rate in Macedonia is expected to be 0.80 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 1.20 percent in 2021 and 1.60 percent in 2022, according to our econometric models.