Execute statement every N iterations in Python

How about keeping a counter and resetting it to zero when you reach the wanted number? Adding and checking equality is faster than modulo.

printcounter = 0

# Whatever a while loop is in Python
while (...):   
    ...
    if (printcounter == 1000000):
        print('Progress report...')
        printcounter = 0
    ...
    printcounter += 1

Although it’s quite possible that the compiler is doing some sort of optimization like this for you already… but this may give you some peace of mind.