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 |
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