FX.co ★ North Macedonia Inflation Slows in November

In November 2025, North Macedonia experienced a reduction in its annual inflation rate to 4% from a recent three-month peak of 4.5% recorded in the previous month. The deceleration was largely attributed to a slowdown in price increases for food and non-alcoholic beverages, which eased to 5.4% from 7% in October. Similar reductions were observed in the categories of alcoholic beverages, tobacco, and narcotics, with rates declining to 5.3% from 6.7%. There was also a decrease in inflation rates for recreation and culture, which fell to 7.2% from 7.8%, and for restaurants and hotels, where rates dropped to 4.6% from 5.2%. Meanwhile, education costs continued to decline at a steady pace of 0.3%, mirroring October's rate. On the contrary, inflationary pressures increased for furniture, household goods, and maintenance, with rates climbing to 5.5% from 4.7%, and for miscellaneous goods and services, which saw an uptick to 3.2% from 3%. Notably, transportation costs rebounded, rising by 1.1% following a previous decline of 1.4%. On a month-to-month basis, consumer prices rose by 0.5% in November, recovering from a 0.2% decrease observed in the preceding period.