North Macedonia’s annual inflation cools to 2.7% in June

North Macedonia’s annual inflation cools to 2.7% in June
North Macedonia's average annual inflation slowed to 2.7% in June.
By bne IntelliNews July 8, 2021

North Macedonia's average annual inflation slowed to 2.7% in June, from 3% in the previous month, statistics office data showed on July 7. In the first six months of 2021, the average inflation was 2.4%.

The central bank said in May it expects inflation to continue to be moderate, amounting to 2.2% and 2% in 2021 and 2022 respectively.

Month on month, the consumer price index (CPI) moved up by 0.5% in the sixth month of the year, after increasing by 0.7% m/m in the previous month.

Transport costs increased the most year on year in June by 9.3%, followed by hotel and restaurant prices by 6.3% y/y, housing, water, electricity and gas supply by 4.3% as well as alcoholic beverages and tobacco prices, which grew by 4%.

Prices of food and non-alcoholic beverages, which are the main driver of the inflation, were higher by 1% y/y.

One group registered a decrease in June – the IT sector, by 0.5% y/y.

The retail price index increased by 4% y/y and was 0.9% higher on a monthly basis in June.

Data

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