Macedonia Producer Inflation Eases in May

The annual producer inflation rate in North Macedonia rose by 4.7% in May 2026, easing from a ten-month high of 5.1% in the previous month. Price growth slowed intermediate goods except energy (1.8% vs 2.3% in April), while costs declined for capital goods (-0.8% vs 11.1%). On the other hand, prices increased for energy (10.2% vs 10.1%) and consumer goods (4.7% vs 3.1%). By sectors and divisions, costs moderated for manufacturing (3.4% vs 4.4%), weighed down by lower costs for beverages (2.7% vs 3.7%), wearing apparel (3.8% vs 6.6%), and leather and leather products (3.7% vs 5.6%). Additionally, inflation eased for mining and quarrying (5.6% vs 14.9%). Meanwhile, growth remained unchanged for water collection, treatment, and supply (at 6.4%), while costs increased for electricity, gas, steam, and air-conditioning supply (10.7% vs 10.5%). On a monthly basis, producer prices grew 1.0% in May, following a 0.6% gain in the preceding period.

The annual producer inflation rate in North Macedonia rose by 5.1% in April 2026 from 4.4% in the previous month, reaching its highest level since June 2025. Producer prices continued to rise for capital goods (11.1% vs 7.8% in March), consumer goods (3.1% vs 2.5%), and non-durable goods (3% vs 2.3%). Meanwhile, inflation eased slightly for energy (10.1% vs 10.3%) and durable goods (5.2% vs 5.9%). By sectors and divisions, manufacturing prices increased further (4.4% vs 3.6%), driven mainly by higher prices for wearing apparel, leather and related products, chemicals and chemical products, computer, electronic and optical products, and machinery and equipment. In contrast, price growth slowed in mining and quarrying (14.9% vs 15.7%) and electricity, gas, steam and air-conditioning supply (10.5% vs 10.7%), while it remained unchanged for water collection, treatment and supply at 6.4%. On a monthly basis, producer prices edged up 0.6% in April, following a 0.5% increase in March.

The annual producer inflation rate in North Macedonia rose to 4.4% in March 2026 from 4.2% in the previous month, marking the highest level since September 2025. Producer prices increased further for intermediate goods excluding energy (2.9% vs 2.2% in February), consumer goods (2.5% vs 2.1%), durable goods (5.9% vs 3.8%), and non-durable goods (2.3% vs 2%). Meanwhile, inflation eased slightly for energy (10.3% vs 10.4%) and capital goods (7.8% vs 8.5%). By sections and divisions, prices also increased for manufacturing (3.6% vs 3.3%), particularly for tobacco products, machinery and equipment, and motor vehicles, trailers and semi-trailers, as well as for the water supply sector (6.4% vs 5.4%). At the same time, prices continued to increase, albeit at a softer pace, in mining and quarrying (15.7% vs 17.4%) and electricity, gas, steam and air conditioning supply (10.7% vs 11%). On a monthly basis, producer prices edged down to 0.5% in March from 1% in the preceding period.