North Macedonia Producer Inflation at Near 1-Year Low

The annual producer inflation in North Macedonia slowed to 3.9% in November 2025 from 4.1% in the previous month. This marks the lowest level since September 2024, as price growth mainly eased for energy (6.1% vs 6.9% in October), and intermediate products except energy (1.9% vs 2.1%). Cost pressures also softened for capital goods, with inflation edging down to 8.0% from 8.2%, while prices for durable goods shifted into decline, falling 2.0% after rising 0.3% previously. In contrast, producer inflation accelerated for consumer products (3.4% vs 2.4%), and for non-perishable goods (3.8% vs 2.6%). On a month-on-month basis, producer prices increased by 0.5% in November, following a 0.3% rise in the prior period. Over the January-to-November period, producer inflation averaged 5.4%.

The annual producer inflation in North Macedonia eased to 4.1% in October 2025 from 4.5% in the previous month. This was the lowest reading since September 2024 amid softer price increases in all main groups, namely energy (6.1% vs 7.3% in September), intermediate goods, except energy (1.9% vs 1.8%), capital goods (8% vs 9.3%), and consumer goods (3.4% vs 3.6%). Within consumer goods, prices dropped for durables (-2% vs 1.9%) while remained steady for non-durables (at 3.8%). On a monthly basis, producer prices rose by 0.3%, following a 0.5% increase in September.

The annual producer inflation in North Macedonia slowed to 4.2% in August 2025, from 4.9% in the previous month. The latest figure marked the lowest reading since September 2024, as prices increased at a slower pace for energy (6.5% vs 7.5% in July), capital goods (9.3% vs 12.7%), and consumer goods (3.5% vs 3.7%). Within consumer goods, non-durables ticked down (3.6% vs 3.9%), while durables increased at a quicker rate (1.5% vs 1%). Meanwhile, prices accelerated for intermediate goods, except energy (1.4% vs 0.9%). On a monthly basis, producer prices fell by 0.1% in August, easing from a 0.4% decline in the previous month.