In December, consumer prices in North Macedonia experienced their most significant increase in seven months, according to preliminary data released by the national statistical office on Wednesday.
The consumer price index rose by 4.4% compared to the same period last year, building on a 4.3% increase recorded in November. This marks the highest rate of inflation since May, when it reached 4.5%.
The most substantial annual increase was observed in the hotels and restaurants category, with prices surging by 12.1%. Additionally, the costs in the food and non-alcoholic beverages sector, along with the recreation and culture segment, surpassed a 5% rise.
Conversely, education costs saw the smallest uptick, increasing by just 0.3%.
Month-on-month, consumer prices rose by 0.3% following a 1.0% growth in November.
For the entire year of 2024, the inflation rate was recorded at 3.5%, a decrease from the 9.4% witnessed in 2023. This represents the lowest inflation rate since 2021, when it was 3.2%.
Retail price inflation stood at 4.3% in December and averaged 3.8% over the course of 2024.
