North Macedonia’s annual producer inflation rate eased to 4.7% in May 2026, down from a ten-month high of 5.1% in April. Price growth slowed for intermediate goods excluding energy (1.8% vs 2.3% in April), while prices for capital goods dropped sharply (-0.8% vs 11.1%). In contrast, costs rose further for energy (10.2% vs 10.1%) and consumer goods (4.7% vs 3.1%).
By sector and division, cost pressures moderated in manufacturing (3.4% vs 4.4%), reflecting weaker price growth in beverages (2.7% vs 3.7%), wearing apparel (3.8% vs 6.6%), and leather and leather products (3.7% vs 5.6%). Producer inflation also eased significantly in mining and quarrying (5.6% vs 14.9%).
Meanwhile, price growth was unchanged in water collection, treatment, and supply (6.4%), while costs edged higher in electricity, gas, steam, and air-conditioning supply (10.7% vs 10.5%). On a monthly basis, producer prices rose 1.0% in May, after a 0.6% increase in the previous month.
