Macedonia returns to CPI deflation in September

By bne IntelliNews October 7, 2015

Macedonia's consumer prices fell 0.3% y/y in September, reversing a 0.1% y/y growth in August, statistics office data showed. In monthly comparison terms, prices eased 0.2% in September after staying flat in August.

Macedonia reported an average annual deflation of 0.3% for the first nine months of the year. In its October edition of the World Economic Outlook, the International Monetary Fund (IMF) forecast an average annual inflation of 0.1% in Macedonia this year, to accelerate to 1.3% in 2016. The end-year inflation is seen at 0.8% y/y in 2015 and 1.7% y/y in 2016.

The return to annual deflation in September was supported by developments in eight of the 12 CPI basket components. The biggest contribution came from transport prices, which sank 11.2% y/y in September, after dropping 8.7% y/y the month before. This group also accounted for the largest m/m decline in September, of some 3.7%. Within transport, consumer prices of fuels and lubricants went down 20.2% y/y and 6.9% m/m in September.

Food prices, which account for 40.7% of CPI, increased 0.4% y/y in September, after rising 0.3% y/y the month before.

CPI, % y/y      
  Aug'15 Sep'15 Jan-Sep'15
CPI 0.1 -0.3 -0.3
Food and non-alcoholic beverages 0.3 0.4 0.3
Alcoholic beverages, tobacco  5.2 5.2 5.5
Clothing and footwear 0.4 0.6 0.3
Housing, water, electricity, gas and other fuels 1.0 0.9 1.2
Furnishings, household equipment and routine maintenance of the house 3.6 2.6 1.9
Health 2.5 2.3 1.1
Transport -8.7 -11.2 -9.3
Communication -4.1 -4.4 -5.1
Recreation and culture 2.2 1.9 0.0
Education 0.0 0.0 0.0
Restaurants and hotels 2.5 1.2 1.1
Miscellaneous goods and services 0.3 0.2 -0.2
Source: Statistics office      

Related Articles

World Bank forecasts a 0.4% y/y decline in Belarus's GDP for 2017

The Belarusian economy will decline by 0.4% year-on-year in 2017, followed by a modest growth of 0.7% in 2018 and 1.2% in 2019, the World Bank forecasts in its Belarus Economic Update published on ... more

EIB and Belarus sign Framework Cooperation Agreement

The European Investment Bank (EIB) and Belarus inked the Framework Agreement on Cooperation on May 15, which paves the way for the lender to invest up to €200mn in Belarusian projects, the Foreign ... more

Ex-owners of Ukraine's PrivatBank fail to restructure loan portfolio, central bank says

Former owners of Ukraine's biggest state lender PrivatBank, which was nationalised in December, Ihor Kolomoisky and Hennady Bogolyubov, failed to demonstrate progress in the fulfillment of its ... more

Register here to continue reading this article and 2 more for free or purchase 12 months full website access including the bne Magazine for just $119/year.

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

Thank you. Please complete your registration by confirming your email address.
A confirmation email has been sent to the email address you provided.

To continue viewing our content you need to complete the registration process.

Please look for an email that was sent to with the subject line "Confirmation bne IntelliNews access". This email will have instructions on how to complete registration process. Please check in your "Junk" folder in case this communication was misdirected in your email system.

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

If you have any questions please contact us at sales@intellinews.com

Subscribe to bne IntelliNews website and magazine

Subscribe to bne IntelliNews website and monthly magazine, the leading source of business, economic and financial news and commentary in emerging markets.

Your subscription includes:
  • Full access to the bne content daily news and features on the website
  • Newsletters direct to your mailbox
  • Print and digital subscription to the monthly bne magazine
  • Digital subscription to the weekly bne newspaper

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

bne IntelliNews
$119 per year

All prices are in US dollars net of applicable taxes.

If you have any questions please contact us at sales@intellinews.com

Register for free to read bne IntelliNews Magazine. You'll receive a free digital subscription.

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

Thank you. Please complete your registration by confirming your email address.
A confirmation email has been sent to the email address you provided.

IntelliNews Pro offers daily news updates delivered to your inbox and in-depth data reports.
Get the emerging markets newswire that financial professionals trust.

"No day starts for my team without IntelliNews Pro" — UBS

Thank-you for requesting an IntelliNews Pro trial. Our team will be in contact with you shortly.

Dismiss