The annual inflation rate in North Macedonia picked up to 5.7% in April 2026 from 4.9% in the prior month, reaching the highest since September 2023. Main upward pressure came from prices of transportation (5.4% vs 0.6% in March); alcoholic beverages & tobacco (10.2% vs 8.8%) and food & non-alcoholic beverages (8% vs 7.5%). On a monthly basis, the CPI rose by 1.3%, marking the steepest increase in nearly a year, after a 0.7% advance the month before. source: State Statistical Office of the Republic of Macedonia

Inflation Rate in Macedonia increased to 5.70 percent in April from 4.90 percent in March 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 May of 2026.

Inflation Rate in Macedonia increased to 5.70 percent in April from 4.90 percent in March of 2026. Inflation Rate in Macedonia is expected to be 5.50 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 2.00 percent in 2028, according to our econometric models.



Calendar GMT Reference Actual Previous Consensus TEForecast
2026-04-07 10:00 AM
Inflation Rate YoY
Mar 4.9% 2.9% 5.0%
2026-05-07 10:00 AM
Inflation Rate YoY
Apr 5.7% 4.9% 5.3%
2026-06-08 10:00 AM
Inflation Rate YoY
May 5.7%



Components Last Previous Unit Reference
Food Inflation 8.00 7.50 percent Apr 2026

Related Last Previous Unit Reference
Consumer Price Index CPI 103.43 102.10 points Apr 2026
Core Consumer Prices 161.70 159.81 points Apr 2026
Core Inflation Rate 4.73 4.34 percent Apr 2026
GDP Deflator 136.14 135.08 points Dec 2025
Inflation Rate YoY 5.70 4.90 percent Apr 2026
Inflation Rate MoM 1.30 0.70 percent Apr 2026
Producer Prices 127.50 126.80 points Mar 2026
PPI YoY 4.40 4.20 percent Mar 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
5.70 4.90 19.80 -2.10 2006 - 2026 percent Monthly

News Stream
North Macedonia Inflation Rate Quickens to Over 2-1/2-Year High
The annual inflation rate in North Macedonia picked up to 5.7% in April 2026 from 4.9% in the prior month, reaching the highest since September 2023. Main upward pressure came from prices of transportation (5.4% vs 0.6% in March); alcoholic beverages & tobacco (10.2% vs 8.8%) and food & non-alcoholic beverages (8% vs 7.5%). On a monthly basis, the CPI rose by 1.3%, marking the steepest increase in nearly a year, after a 0.7% advance the month before.
2026-05-07
North Macedonia Inflation at 13-Month High
The annual inflation rate in North Macedonia rose by 4.9% in March 2026 from 2.9% in the previous month. This marked the highest reading since February 2025, lifted by price increases in food and non-alcoholic beverages (7.5% vs 3.9% in February), alcoholic beverages and tobacco (8.8% vs 4.9%), furniture, household equipment, and maintenance (5.9% vs 4.6%), recreation and culture (6.1% vs 5.4%), and education (4.3% vs 3.8%). At the same time, costs recovered for transport costs (0.6% vs -4.4%). In contrast, inflation slowed for restaurants and hotels (3.8% vs 4.1%), clothing and footwear (2.4% vs 2.6%), housing and utilities (2.6% vs 2.8%), health (1.9% vs 2%), and communication (1.5% vs 1.6%). On a monthly basis, consumer prices grew by 0.7% in March, following a 0.2% increase in the preceding period.
2026-04-07
North Macedonia Inflation Hits 10-Month Low
The annual inflation rate in North Macedonia slowed to 2.9% in February 2026 from 3.2% in the previous month. This marked the lowest reading since April last year, largely driven by ongoing deflation in transport costs (-4.4% vs -6.5% in January). At the same time, inflation moderated for food and non-alcoholic beverages (3.9% vs 5.2%), furnishings, household equipment and maintenance (4.6% vs 5.8%), health (2% vs 2.9%), and restaurants and accommodations (4.1% vs 4.8%). On the other hand, prices increased at a faster pace for clothing and footwear (2.6% vs 1.2%), recreation, sport and culture (5.4% vs 4.3%), and miscellaneous goods and services (2.1% vs 1%), while it rebounded for education services (3.8% vs –0.1%). On a monthly basis, consumer prices rose by 0.2% in February, recovering from a 0.7% fall in the preceding period.
2026-03-09