Macedonia’s CPI deflation softens to 0.3% y/y in November

By bne IntelliNews December 9, 2014

Macedonia’s consumer prices fell by 0.3% y/y in November, following a 0.4% y/y decline in October, statistics office data showed. Compared to the previous month, consumer prices were flat in November.

The smaller CPI decline in November was supported by narrower y/y contractions in the groups of food and non-alcoholic beverages (to 0.1% from 0.7% in October) and restaurants and hotels (to 0.8% from 1.4%). In addition, the annual price growth accelerated in the groups of housing, water, electricity, gas and other fuels (to 1.6% from 1%) and health (to 2.3% from 2.1%).

On the other hand, the  y/y decline in prices widened in a number of other groups, including furnishings (to 2.4% from 1.5%), transport (to 3.9% from 2%), communication (to 2.5% from 2.4%), as well as recreation and culture (to 6.2% from 5.5%). The growth of consumer prices slowed down in education (to 0% from 0.2%) and miscellaneous goods and services (to 1.1% from 1.7%).

So far this year, the annual growth of CPI was negative in seven months – April, May, June, August, September, October and November. As a result, Macedonia reported an average deflation of 0.3% y/y in January-November.

CPI, % y/y        
  Structure, % Oct'14 Nov'14 Jan-Nov'14
CPI 100.0 -0.4 -0.3 -0.3
Food and non-alcoholic beverages 41.0 -0.7 -0.1 -1.1
Alcoholic beverages, tobacco  4.0 3.8 3.8 3.9
Clothing and footwear 6.9 0.1 0.1 0.7
Housing, water, electricity, gas and other fuels 13.4 1.0 1.6 -0.3
Furnishings, household equipment and routine maintenance of the house 5.3 -1.5 -2.4 -1.6
Health 3.5 2.1 2.3 8.4
Transport 8.7 -2.0 -3.9 -0.8
Communication 3.8 -2.4 -2.5 -0.9
Recreation and culture 2.5 -5.5 -6.2 -3.7
Education 1.1 0.2 0.0 0.2
Restaurants and hotels 5.5 -1.4 -0.8 -1.3
Miscellaneous goods and services 4.4 1.7 1.1 1.6
Source: Statistics office        

Related Articles

ArcelorMittal proposes to divest assets in Czech Republic, Macedonia and Romania

International steel and mining company ArcelorMittal said on April 13 it has proposed a divestment package to the European Commission in a bid to obtain approval for its planned acquisition of ... more

Macedonian MPs debate no-confidence motion against government

Macedonian MPs started debating a no-confidence motion filed by the opposition VMRO-DPMNE party against the government on April 11. The opposition party accused the government of increasing crime and ... more

Bulgaria’s Borissov appeals to Western Balkan leaders to preserve peace

Boyko Borissov, prime minister of the current EU Council chair Bulgaria, called on April 10 on the leaders of the Western Balkan countries to preserve peace and ... more

Dismiss