North Macedonia’s PPI jumps 21.7% y/y in May

North Macedonia’s PPI jumps 21.7% y/y in May
By bne IntelliNews June 28, 2022

North Macedonia’s domestic industrial producer price index (PPI) jumped by an annual 21.7% in May, after going up by 21.4% y/y in the previous month, statistics office data indicated on June 28.

The annual growth was driven by the PPI increase in all sectors. The PPI started to grow rapidly since February 2021. North Macedonia's average annual inflation speeded up to 11.9% in May.

On a monthly basis, industrial producer index increased 0.8% in the fifth month of 2021, accelerating slightly from a 0.3% growth in the previous month.

Producer prices in utilities went up the most, by an annual 35.4% in May.

Prices in the key manufacturing sector grew by 20.5% year on year, while mining sector prices rose by 4% y/y.

In the first five months the PPI was higher by 20.4%.