North Macedonia’s annual inflation slows further to 14.7% in March

North Macedonia’s annual inflation slows further to 14.7% in March
/ bne IntelliNews
By bne IntelliNews April 10, 2023

North Macedonia posted average annual inflation of 14.7% in March, slowing by 2 percentage points (pp) from a month earlier (chart), statistics office data indicated on April 7.

The slowdown in inflation started last November. The central bank said recently that it expects annual inflation to continue slowing down in the coming months, but future price dynamics of primary products on the stock exchanges remain highly uncertain.

On a monthly basis, the consumer price index (CPI) edged down up 0.1% in March after moving up 0.6% in February.

As in the previous months, the food and beverages prices posted the largest annual growth of 21.7%, followed by hotel and restaurants (18.7%), furnishings and household equipment (16.6%), miscellaneous goods and services (15.5%) as well as housing, water, electricity, gas and other fuels (15.3%).

The retail price index increased by 10.7% y/y and moved down by 0.1% on a monthly basis in the third month of the year.

In the first three months, inflation was 16.1%.

In 2022, the average inflation was 14.2%, up from just 3.2% in 2021

Data

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