The inflation rate in North Macedonia inched up by 2.7% year-on-year in September 2026 from 2.6% in the previous month. This marked the highest reading in three months as costs increased for food and non-alcoholic beverages (1.7% vs 1.0% in August), clothing and footwear (2.7% vs 2.1%), furniture and household equipment (2.2% vs 1.7%), education (5.4% vs 5.0%), restaurants and hotels (5.8% vs 4.8%), and miscellaneous goods and services (2.6% vs 1.9%). Moreover, price growth remained steady for insurance and financial services (at 0.3%). On the other hand, inflation moderated for alcoholic beverages and tobacco (6.5% vs 9.4%), housing utilities (3.7% vs 3.8%), health (1.3% vs 1.5%), transportation (3.3% vs 3.4%), information and communication (0.4% vs 1.9%), and recreation and culture (6.3% vs 8.8%). On a monthly basis, consumer prices stagnated in August, following a 0.4% increase in the preceding period. source: State Statistical Office of the Republic of Macedonia

Inflation Rate in Macedonia increased to 2.70 percent in September from 2.60 percent in August of 2026. Inflation Rate in Macedonia averaged 3.16 percent from 2006 until 2026, 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 October of 2026.

Inflation Rate in Macedonia increased to 2.70 percent in September from 2.60 percent in August of 2026. Inflation Rate in Macedonia is expected to be 3.20 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the North Macedonia Inflation Rate is projected to trend around 2.40 percent in 2027 and 2.60 percent in 2028, according to our econometric models.



Calendar GMT Reference Actual Previous Consensus TEForecast
2026-09-07 10:00 AM
Inflation Rate YoY
Aug 2.6% 2.3% 2.5%
2026-10-07 10:00 AM
Inflation Rate YoY
Sep 2.7% 2.6% 2.9%
2026-11-09 11:00 AM
Inflation Rate YoY
Oct 2.7%



Components Last Previous Unit Reference
Food Inflation 1.70 1.00 percent Sep 2026

Related Last Previous Unit Reference
Consumer Price Index CPI 104.00 104.00 points Sep 2026
Core Consumer Prices 162.52 163.33 points Sep 2026
Core Inflation Rate 1.58 2.04 percent Sep 2026
GDP Deflator 137.22 135.01 points Jun 2026
Inflation Rate YoY 2.70 2.60 percent Sep 2026
Inflation Rate MoM 0.00 0.40 percent Sep 2026
Producer Prices 130.80 130.40 points Aug 2026
PPI YoY 7.10 6.50 percent Aug 2026


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
2.70 2.60 19.80 -2.10 2006 - 2026 percent Monthly

News Stream
North Macedonia Inflation at 3-Month High
The inflation rate in North Macedonia inched up by 2.7% year-on-year in September 2026 from 2.6% in the previous month. This marked the highest reading in three months as costs increased for food and non-alcoholic beverages (1.7% vs 1.0% in August), clothing and footwear (2.7% vs 2.1%), furniture and household equipment (2.2% vs 1.7%), education (5.4% vs 5.0%), restaurants and hotels (5.8% vs 4.8%), and miscellaneous goods and services (2.6% vs 1.9%). Moreover, price growth remained steady for insurance and financial services (at 0.3%). On the other hand, inflation moderated for alcoholic beverages and tobacco (6.5% vs 9.4%), housing utilities (3.7% vs 3.8%), health (1.3% vs 1.5%), transportation (3.3% vs 3.4%), information and communication (0.4% vs 1.9%), and recreation and culture (6.3% vs 8.8%). On a monthly basis, consumer prices stagnated in August, following a 0.4% increase in the preceding period.
2026-10-07
North Macedonia Inflation Rises to 2.6% in August
The annual inflation rate in North Macedonia rose by 2.6% in August 2026 from a two-year low of 2.3% in the previous month. Costs increased for clothing and footwear (2.1% vs 1.8% in July), housing utilities (3.8% vs 3.6%), health (1.5% vs 1.3%), transportation (3.4% vs 1.1%), information and communication (1.9% vs 2.0%), recreation and culture (8.8% vs 5.7%), education (5.0% vs 4.9%), and restaurants and hotels (4.8% vs 4.4%). Moreover, price growth remained steady for miscellaneous goods and services (at 1.9%). In contrast, inflation moderated for alcoholic beverages and tobacco (9.4% vs 9.5%), food and non-alcoholic beverages (1.0% vs 1.1%), furniture and household equipment (1.7% vs 2.1%), and insurance and financial services (0.3% vs 1.6%). On a monthly basis, consumer prices grew by 0.4% in August, following a 0.1% gain in the preceding period.
2026-09-07
North Macedonia Inflation Eases to 2-Year Low
The annual inflation rate in North Macedonia eased to 2.3% in July 2026 from 3.4% in the previous month, marking the lowest reading since August 2024. Price growth moderated for food and non-alcoholic beverages (1.1% vs 2.5% in June), clothing and footwear (1.8% vs 2.1%), furniture, household equipment, and routine household maintenance (2.1% vs 4.2%), health (1.3% vs 1.8%), transportation (1.1% vs 6.2%), information and communication (2.0% vs 2.8%), restaurants and hotels (4.4% vs 4.9%), and insurance and financial services (1.6% vs 1.7%). In contrast, costs increased for alcoholic beverages and tobacco (9.5% vs 9.3%), recreation and culture (5.7% vs 5.1%), education (4.9% vs 4.6%), housing and utilities (3.6% vs 2.8%), and miscellaneous goods and services (1.9% vs 1.6%). On a monthly basis, consumer prices grew by 0.1% in July, rebounding from a 0.5% drop in the preceding period.
2026-08-07