North Macedonia's National Bank forecasts historically low inflation

The governor of the National Bank of North Macedonia, Trajko Slaveski, expects that the year will end with inflation at around 4 percent, in line with the central bank’s projection.

In response to a journalist’s question after the press conference, Slaveski said that expectations for next year are that inflation will continue to decrease, reaching between 2.5 and 3 percent, and that in the medium term it will reach historically low levels of around 2 percent, CE Report quotes MIA.

“Inflation had a downward trend in the first months of the year and unexpectedly accelerated for a few months, but in the summer we even saw months with deflation, minus 0.2 percent—I believe that was in August compared to July. We consider the stabilization as an indication that the upward trend is not reversed, and we already see small month-to-month changes. In October, we recorded growth of 4.5 percent. Both the projections and expectations indicate that annual inflation for this year will be within our forecast, around 4 percent or close to it. Our projection was 3.9 percent, and the projections for next year are already known,” Slaveski said.

Statistical data on December inflation are expected to be released on 8 January. Statistics measured that in November, the cost of living increased by 4 percent on an annual basis.

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Фото: МИА архива