North Macedonia’s PPI down by annual 2.1% in August
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%.
Russia’s strong growth, driven by heavy military spending, has created growing inflationary pressure as the economy starts to overheat, the Bank of Finland institute for Emerging Economies (BOFIT) says in its weekly update.
In the most recent poll conducted by the Russian Public Opinion Research Center (VTsIOM), President Vladimir Putin's trust rating remained steady at 78.5%.
Ukraine’s leading investment bank Dragon Capital has cut its GDP forecast for Ukraine in 2024 in half to 4% y/y in anticipation of another year of war, The New Voice of Ukraine reported on December 7.
Czech industrial production increased by 1.9% year on year and by 2.8% month on month in October. The October increase follows a 5% slump registered in September, which alarmed local analysts.
Since 2018, economy has carried risk of severe balance of payments crisis. For the removal of that risk, the central bank’s net in and off-balance sheet FX position should at least turn positive.
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