The annual inflation rate in Macedonia rose to 2.1 percent in October of 2020 from 1.9 percent in the previous month. It was the highest inflation rate since December 2017, as prices advanced further for food & non-alcoholic beverages (3.5 percent vs 3.1 percent in September); health (1.4 percent vs 1.3 percent); and alcoholic beverages & tobacco (7.8 percent vs 4.5 percent). On the other hand, cost eased for housing & utilities (4.6 percent vs 4.7 percent); restaurants & hotels (1.8 percent vs 2.3 percent); and miscellaneous good & services (3.1 percent vs 3.5 percent). Also, cost of recreation & culture dropped (-0.4 percent vs 0.5 percent) and prices continued to fall for transport (-7.2 percent vs -6.5 percent) and clothing & footwear (-0.1 percent, the same as in September). On a monthly basis, consumer prices went up 0.1 percent, rebounding from a 0.2 percent decline in the prior month. source: State Statistical Office of the Republic of Macedonia
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 November 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.