North Macedonia posts annual inflation of 1.2% in January

By bne IntelliNews February 15, 2019

North Macedonia posted annual inflation of 1.2% in January, up from 0.9% a month earlier, the statistics agency said on February 14.

Inflation was driven by the prices of food and alcoholic beverages and tobacco. Macedonia posted annual inflation of 1.5% in 2018, slightly down from 1.4% in 2017. According to the IMF, Macedonia's annual average consumer price index (CPI) is seen at 2% in 2019. 

Prices of alcoholic beverages and tobacco increased the most in January, by 4.8% y/y, followed by prices of recreation and culture (+2.6%).

Food prices rose 2% y/y in the first month of the year.

On a monthly basis, the CPI ticked down 0.1% in January, after edging down by 0.2% m/m a month earlier.

Prices of food increased 0.8% m/m in January, while those of alcoholic beverages and tobacco were flat m/m.

The retail price index (RPI) went up by 0.7% y/y in January, and moved down 0.5% on a monthly basis.