The annual inflation rate in Macedonia stood at 0.8 percent in August 2019. Prices rose further for food & non-alcoholic beverages (1.8 percent from 1 percent in July); furniture & household equipment (1.7 percent from 1 percent) and restaurant & hotels (0.6 percent from 0.4 percent). Additionally, cost of miscellaneous goods & services rebounded (0.1 percent from -0.7 percent). Meanwhile, prices slowed for recreation & culture (1.7 percent from 2.2 percent); health (3 percent from 3.2 percent); and alcoholic beverages & tobacco (4.7 percent from 5.2 percent). Also, cost of transport dropped (-1.7 percent from 1 percent) and prices declined at a faster pace for housing & utilities (-0.2 percent from -0.1 percent); clothing & footwear (-2.1 percent from -1 percent); and communication (-1.9 percent from -1.8 percent). On a monthly basis, consumer prices went up 0.3 percent, after rising 0.2 percent in July. Inflation Rate in Macedonia averaged 1.70 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 0.90 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 2.00 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.