North Macedonia’s PPI down by annual 2.1% in August

North Macedonia’s PPI down by annual 2.1% in August
/ bne IntelliNews
By bne IntelliNews September 28, 2023

North Macedonia’s domestic industrial producer price index (PPI) fell by an annual 2.1% in August, after edging down 0.2% in the previous month (chart), statistics office data indicated on September 28.

August is the second month in a row which saw a PPI annual decline. The PPI grew rapidly from February 2021, but started to show signs of slowdown in November 2022. In the meantime, the country's average annual CPI inflation eased to 8.3% in August.

On a monthly basis, industrial producer index moved down by 0.4% in August after falling 0.5% in the previous month.

Year on year, prices in the key manufacturing sector rose by 1%, while mining sector prices declined by 12.5% y/y.

PPI in utilities were lower by an annual 11% in August.

In the first eight months of the year, the PPI was up 5.6%.