Inflation rises in North Macedonia as cost of living increases

The cost of living in North Macedonia rose by 0.4% in October compared with September. Compared with October last year, it increased by 3.3%.

Data from the State Statistical Office show that alcoholic beverages and tobacco saw the largest price increase in October, at 2.5%. Prices for clothing and footwear, as well as spending on recreation, sports and culture, rose by 1.2%.

Food and non-alcoholic beverages, which are part of people’s everyday expenses, also cost 0.7% more. However, prices did not rise in every category in October: some products and services became cheaper.

Prices for furniture and household equipment fell by 1.3%, restaurants and accommodation services by 0.7%, and transport by 0.3%. The picture changes when prices are compared with those of October last year, as increases in some categories are considerably higher.

On an annual basis, transport ranks first with an increase of 9.5%, showing that costs in this sector are significantly higher than a year ago. Recreation, sports and culture follow at 8.5%, and alcoholic beverages and tobacco at 7.8%. Overall, retail prices rose by 3.2% year on year.

The sharpest increase was recorded in petroleum products, mainly following the US-Iran conflict. This price increase also affected all other industries.