The annual inflation rate in Macedonia edged up to 3 percent in May of 2021, from 2.7 percent in the previous month. This was the fastest increase since July of 2013, due to low base effects from the early months of the pandemic outbreak. Main upward pressure came from cost of clothing & footwear (0.9 percent vs -0.6 percent in April) and health services (3.3 percent vs 3.1 percent) while inflation slowed for transports (9.6 percent vs 10.6 percent), food & non-alcoholic beverages (1.9 percent vs 4.1 percent) and housing & utilities (4.3 percent vs 4.4 percent). On a monthly basis, consumer prices grew by 0.7 percent, following a 0.7 percent increase in the month prior. source: State Statistical Office of the Republic of Macedonia

Inflation Rate in Macedonia averaged 1.64 percent from 2006 until 2021, 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 June of 2021.

Inflation Rate in Macedonia is expected to be 1.90 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 1.30 in 12 months time. In the long-term, the Macedonia Inflation Rate is projected to trend around 2.20 percent in 2022 and 1.60 percent in 2023, according to our econometric models.

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Macedonia Inflation Rate

Actual Previous Highest Lowest Dates Unit Frequency
3.00 2.70 9.90 -2.10 2006 - 2021 percent Monthly


Calendar GMT Actual Previous Consensus TEForecast
2021-03-08 11:00 AM Feb 1.9% 1.9% 2.1%
2021-04-07 10:00 AM Mar 2.1% 1.9% 2%
2021-05-07 10:00 AM Apr 2.7% 2.1% 2.4%
2021-06-07 10:00 AM May 3% 2.7% 2.6%
2021-07-07 10:00 AM Jun 3% 1.9%
2021-08-09 10:00 AM Jul
2021-09-07 10:00 AM Aug
2021-10-07 10:00 AM Sep


News Stream
Macedonia Annual Inflation Rate Rises to 3.0% in May
The annual inflation rate in Macedonia edged up to 3 percent in May of 2021, from 2.7 percent in the previous month. This was the fastest increase since July of 2013, due to low base effects from the early months of the pandemic outbreak. Main upward pressure came from cost of clothing & footwear (0.9 percent vs -0.6 percent in April) and health services (3.3 percent vs 3.1 percent) while inflation slowed for transports (9.6 percent vs 10.6 percent), food & non-alcoholic beverages (1.9 percent vs 4.1 percent) and housing & utilities (4.3 percent vs 4.4 percent). On a monthly basis, consumer prices grew by 0.7 percent, following a 0.7 percent increase in the month prior.
2021-06-07
Macedonia Inflation Rate Rises to Nearly 8-Year High
The annual inflation rate in Macedonia jumped to 2.7 percent in April of 2021, from 2.1 percent in the previous month. This was the fastest increase in consumer prices since August of 2013, due to low base effects from the early months of the pandemic outbreak. Main upward pressure came from prices of transports (10.6 percent vs 2.3 percent in March) and health services (3.1 percent vs 2.5 percent) while inflation slowed slightly for food & non-alcoholic beverages (4.1 percent vs 4.3 percent) and housing & utilities (4.4 percent vs 4.5 percent). In addition, cost of clothing & footwear fell much less (-0.6 percent vs -2.1 percent). On a monthly basis, consumer prices grew by 0.7 percent, following a 0.5 percent increase in the month prior.
2021-05-07
Macedonia Annual Inflation Rate Rises to 2.1% in March
The annual inflation rate in Macedonia increased to 2.1 percent in March of 2021, from 1.9 percent in the previous month. Consumer prices rebounded for transport (2.3 percent vs -3.9 percent in February), and increased faster for furnishings & housing equipment (1.5 percent vs 0.6 percent), recreation & culture (1.7 percent vs 1.0 percent) and housing & utilities (4.5 percent vs 4.4 percent). In addition, prices of food & non-alcoholic beverages rose at a slower pace (1.7 percent vs 2.0 percent), while cost was of communication fell 0.1 percent, the same as in February and inflation was flat for both education (0.1 percent) and restaurant & hotels (5.2 percent) On a monthly basis, consumer prices grew by 0.5 percent, following a 0.1 percent increase in the month prior.
2021-04-07
Macedonia Annual Inflation Rate Remains at 1.9%
The annual inflation rate in Macedonia remained at 1.9 percent in February of 2021, the same as in the previous month. Cost slowed for food & non-alcoholic beverages (2 percent vs 2.3 percent in January) and and restaurants and hotels (5.2 percent vs 6 percent) and increased at the same pace for housing & utilities (4.4 percent vs 4.4 percent). Also, transport cost recorded a softer decrease (-3.9 percent vs -6.1 percent), while deflation for clothing & footwear deepened (-1 percent vs -0.5 percent). On a monthly basis, consumer prices rose 0.1 percent, after a 0.2 percent decrease in January of 2021.
2021-03-08

Macedonia Inflation Rate
In Macedonia, the most important category in the consumer price index is Food and Non-Alcoholic Beverages (40.9 percent of total weight). Housing and Utilities accounts for 13.8 percent; Transport for 7.9 percent; Clothing and Footwear for 7 percent; Restaurants and Hotels for 5.5 percent and Furniture, Household Goods and Maintenance for 5.4 percent. Miscellaneous Goods and Services; Alcoholic beverages and Tobacco ; Health; Communication; Recreation and Culture and Education account for the remaining 19.5 percent of total weight.