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|
|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|
|Recreation and culture||2.2||1.9||0.0|
|Restaurants and hotels||2.5||1.2||1.1|
|Miscellaneous goods and services||0.3||0.2||-0.2|
|Source: Statistics office|
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