Ministry of Economy Rules Out New Measures: Food Prices Fall for the Second Consecutive Month

The Ministry of Economy and Labor says that, under the current circumstances, there is no need to introduce further measures to limit food prices. The position comes after the State Statistical Office reported that annual inflation in July stood at 2.3 percent, while monthly inflation was 0.1 percent.

According to the ministry, official data show that prices are moving steadily. In the food category, meanwhile, a decline was recorded for the second consecutive month.

“At present, official indicators do not signal the need to introduce new intervention measures, as price movements are stable, while in the most important category—food—prices have already fallen for the second consecutive month,” the ministry said.

According to the ministry, the rise in the cost of living during July was mainly linked to seasonal factors. This was particularly evident in transport, where an increase of 4.4 percent was recorded, as well as in the recreation, sports and culture category.

The ministry said that market developments are being closely monitored and that appropriate measures will be taken if unjustified price increases or market disruptions emerge.

Finance Minister Gordana Dimitrieska-Koçoska described the continuation of the downward trend in inflation as a positive signal for the economy. She also emphasized that increases are being recorded in exports, industrial production, employment and tax revenues in the Budget.