Inflation rate in Macedonia eased for a fourth straight month to 16.7% in February 2023, from a 17.1% hike in the previous month, as prices rose at a softer pace for housing & utilities (14.9% vs 15.8%), alcoholic beverages & tobacco (4.5% vs 8.4%), transport (8.8% vs 11.6%), restaurants & hotels (20.6% vs 21.2%) and health (4.1% vs 4.3%). On the other hand, cost slightly increased for food & non-alcoholic beverages (25.3% vs 25.1%), furniture & household equipment (17.8% vs 17.7%), recreation & culture (8.1% vs 7.6%) and clothing & footwear (3.5% vs 2.7%). On a monthly basis, consumer prices inched up by 0.6%, following a 0.1% rise in the previous month. source: State Statistical Office of the Republic of Macedonia

Inflation Rate in Macedonia averaged 2.77 percent from 2006 until 2023, reaching an all time high of 19.80 percent in October of 2022 and a record low of -2.10 percent in December of 2009. This page provides the latest reported value for - Macedonia Inflation Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. North Macedonia Inflation Rate - data, historical chart, forecasts and calendar of releases - was last updated on March of 2023.

Inflation Rate in Macedonia is expected to be 14.30 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations.

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North Macedonia Inflation Rate



Calendar GMT Actual Previous Consensus TEForecast
2023-02-14 11:00 AM Jan 17.1% 18.7% 13.5%
2023-03-07 11:00 AM Feb 16.7% 17.1% 16.8%
2023-04-07 10:00 AM Mar 16.7% 14.3%


Related Last Previous Unit Reference
Inflation Rate 16.70 17.10 percent Feb 2023
Consumer Price Index CPI 145.28 144.36 points Feb 2023
GDP Deflator 106.10 100.90 percent Dec 2021
Food Inflation 25.30 25.10 percent Feb 2023
Core Inflation Rate 16.62 16.78 percent Feb 2023
Core Consumer Prices 142.90 142.04 points Feb 2023
Inflation Rate MoM 0.60 0.10 percent Feb 2023
Producer Prices Change 10.00 13.30 percent Jan 2023
Producer Prices 140.80 140.00 points Dec 2022

North Macedonia Inflation Rate
In Macedonia, the most important category in the consumer price index is Food and Non-Alcoholic Beverages (40 percent of total weight). Housing and Utilities account for 13 percent; Transport for 8 percent; Clothing and Footwear for 7 percent; Furnishings, Household Equipment and Maintenance for 6 percent; and Restaurants and Hotels for 6 percent. Miscellaneous Goods and Services; Alcoholic beverages, tobacco and narcotics; Health; Communication; Recreation and Culture; and Education account for the remaining 21 percent of total weight.
Actual Previous Highest Lowest Dates Unit Frequency
16.70 17.10 19.80 -2.10 2006 - 2023 percent Monthly

News Stream
Macedonia Inflation Rate Continues to Slow
Inflation rate in Macedonia eased for a fourth straight month to 16.7% in February 2023, from a 17.1% hike in the previous month, as prices rose at a softer pace for housing & utilities (14.9% vs 15.8%), alcoholic beverages & tobacco (4.5% vs 8.4%), transport (8.8% vs 11.6%), restaurants & hotels (20.6% vs 21.2%) and health (4.1% vs 4.3%). On the other hand, cost slightly increased for food & non-alcoholic beverages (25.3% vs 25.1%), furniture & household equipment (17.8% vs 17.7%), recreation & culture (8.1% vs 7.6%) and clothing & footwear (3.5% vs 2.7%). On a monthly basis, consumer prices inched up by 0.6%, following a 0.1% rise in the previous month.
2023-03-07
Macedonia Inflation Rate Slows to 17.1% in January
Inflation rate in Macedonia eased to 17.1 percent in January of 2023 from 18.7 percent in the previous month. This was the lowest reading since August of 2022. Main upward pressures come from prices of food & non-alcoholic beverages (25.1%), restaurants & hotels (21.2%), furniture & household equipment (17.7%), housing & utilities (15.8%), alcoholic beverages & tobacco (8.4%), recreation & culture (7.6%) and clothing & footwear (2.7%). On a monthly basis, consumer prices rose by 0.1 percent, following a 0.2 percent decline in the previous month.
2023-02-14
Macedonia Inflation Slows for 2nd Month in December
The annual inflation rate in Macedonia was at 14.2 percent in December of 2022, retreating sharply from 19.5 percent in the prior month and extending the slowdown from the record-high 19.8 percent in October. It was the lowest rate of price growth in seven months, as inflation fell for food and non-alcoholic beverages (20.9 percent vs 29.8 percent), housing and utilities (13.3 percent vs 20 percent), and restaurants and hotels (15.5 percent vs 21.3 percent). On the other hand, prices accelerated for transportation (19.5 percent vs 16.5 percent). On a monthly basis, consumer prices fell by 0.2 percent, the first monthly decline since September 2021.
2023-01-09