North Macedonia’s annual inflation slows to 16.7% in February

North Macedonia’s annual inflation slows to 16.7% in February
/ bne IntelliNews
By bne IntelliNews March 7, 2023

North Macedonia posted average annual inflation of 16.7% in February, slowing slightly from the 17.1% inflation a month earlier (chart), statistics office data indicated on March 7.

The slowdown in inflation started last November. Consumer prices are expected to ease further during the course of the year.

On a monthly basis, the consumer price index (CPI) moved up 0.6% in February after ticking up 0.1% in January.

As in the previous months, the food and beverages prices posted the largest annual growth of 25.3%, followed by hotel and restaurants (20.6%), furnishings and household equipment (17.8%), miscellaneous goods and services (15.3%) as well as housing, water, electricity, gas and other fuels (14.9%).

The retail price index increased by 12.4% y/y and moved up by 0.4% on a monthly basis in the second month of the year.

In the first two months, inflation was 16.9%.

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

Data

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