FX.co ★ Macedonia Producer Inflation Cools to 16-Month Low

Annual producer inflation in North Macedonia slowed to 3.8% in January 2026, down from 4.1% in December, reaching its lowest level since September 2024. The deceleration was driven primarily by weaker price growth for intermediate goods excluding energy (2.3% vs 2.5% in December) and for capital goods (7.5% vs 10.4%). In contrast, prices accelerated for energy (9.6% vs 7.6%) and consumer goods (1.7% vs 1.2%). Within consumer goods, prices of durable items returned to growth (1.0% vs -2.7%), while non-durable goods saw a faster increase (1.8% vs 1.5%). On a monthly basis, consumer prices rose by 1.0% in January, after a 0.5% gain in December.