North Macedonia - Consumer price index (2010 = 100)

The value for Consumer price index (2010 = 100) in North Macedonia was 114.76 as of 2020. As the graph below shows, over the past 27 years this indicator reached a maximum value of 114.76 in 2020 and a minimum value of 27.59 in 1993.

Definition: Consumer price index reflects changes in the cost to the average consumer of acquiring a basket of goods and services that may be fixed or changed at specified intervals, such as yearly. The Laspeyres formula is generally used. Data are period averages.

Source: International Monetary Fund, International Financial Statistics and data files.

See also:

Year Value
1993 27.59
1994 62.52
1995 72.75
1996 74.55
1997 75.51
1998 75.92
1999 74.95
2000 79.91
2001 84.06
2002 86.01
2003 86.74
2004 86.35
2005 86.81
2006 89.60
2007 91.61
2008 99.25
2009 98.51
2010 100.00
2011 103.90
2012 107.35
2013 110.34
2014 110.03
2015 109.70
2016 109.44
2017 110.92
2018 112.53
2019 113.40
2020 114.76

Development Relevance: A general and continuing increase in an economy’s price level is called inflation. The increase in the average prices of goods and services in the economy should be distinguished from a change in the relative prices of individual goods and services. Generally accompanying an overall increase in the price level is a change in the structure of relative prices, but it is only the average increase, not the relative price changes, that constitutes inflation. A commonly used measure of inflation is the consumer price index, which measures the prices of a representative basket of goods and services purchased by a typical household. The consumer price index is usually calculated on the basis of periodic surveys of consumer prices. Other price indices are derived implicitly from indexes of current and constant price series.

Limitations and Exceptions: Consumer price indexes should be interpreted with caution. The definition of a household, the basket of goods, and the geographic (urban or rural) and income group coverage of consumer price surveys can vary widely by country. In addition, weights are derived from household expenditure surveys, which, for budgetary reasons, tend to be conducted infrequently in developing countries, impairing comparability over time. Although useful for measuring consumer price inflation within a country, consumer price indexes are of less value in comparing countries.

Statistical Concept and Methodology: Consumer price indexes are constructed explicitly, using surveys of the cost of a defined basket of consumer goods and services.

Base Period: 2010

Periodicity: Annual

Classification

Topic: Financial Sector Indicators

Sub-Topic: Exchange rates & prices