Macedonia Producer Inflation Cools to 16-Month Low

The annual producer inflation rate in North Macedonia rose to 4.2% in February 2026 from a sixteen-month low of 3.8% in the previous month. This marked the highest reading since September last year, mainly due to higher energy prices, which climbed by 10.4%, its sharpest rise since May 2025, following a 9.6% gain in January. Producer inflation also increased for capital goods (8.5% vs 7.5%), consumer goods (2.2% vs 1.7%), durable goods (3.7% vs 1.1%), and non-durable goods (2% vs 1.8%). On the other hand, price growth slightly eased for intermediate goods (2.2% vs 2.3%). According to sections and divisions, costs for mining and quarrying (17.4% vs 13.1%), manufacturing (3.3% vs 3%), and electricity, gas, steam and air conditioning supply (11% vs 10%) rose further, while it remained steady for water supply (at 5.4%). On a monthly basis, producer prices went up by 1% in February, the same pace as in the preceding period.

The annual producer inflation in North Macedonia eased to 3.8% in January 2026 from 4.1% in the previous month. This marked the lowest level since September 2024, mainly due to softer price growth for intermediate goods, except energy (2.3% vs 2.5% in December) and capital goods (7.5% vs 10.4%). Meanwhile, prices rose at a faster pace for energy (9.6% vs 7.6%) and consumer goods (1.7% vs 1.2%). Under consumer goods, prices of durable goods rebounded (1.0% vs -2.7%), while costs of non-durable goods increased (1.8% vs 1.5%). On a monthly basis, consumer prices rose by 1.0%, following a 0.5% increase in December.

The annual producer inflation in North Macedonia rose by 4.1% in December 2025 from a fourteen-month low of 3.9% in the previous month. Prices increased at a faster pace for energy (7.6% vs 6.9% in November), intermediate goods (2.4% vs 2.2%), capital goods (10.3% vs 8.2%). On the other hand, producer inflation slowed for consumer goods (1.2% vs 2.4%) and non-perishable goods (1.5% vs 2.6%), while costs declined for durable goods (-2.6% vs 0.3%). On a month-on-month basis, producer prices increased by 0.5% in December, following a 0.4% gain in the preceding period.