North Macedonia’s annual inflation slows to 17.1% in January

North Macedonia’s annual inflation slows to 17.1% in January

/ bne IntelliNews

By bne IntelliNews February 14, 2023

North Macedonia posted average annual inflation of 17.1% in Janaury, slowing down from the 18.7% inflation a month earlier (chart), statistics office data showed on February 14.

The central bank said recently that inflation began to slow down at the end of 2022 and it is expected this tendency to continue this year. However, considering the strength and duration of the external price shocks, inflation is still at a high level and requires careful monitoring.

On a monthly basis, the consumer price index (CPI) edged up 0.1% in January after ticking down 0.2% in December.

As in the previous months, the food and beverages prices posted the largest annual growth of 25.1%, followed by hotel and restaurants (21.2%), furnishings and household equipment (17.7%) as well as housing, water, electricity, gas and other fuels (15.8%).

The retail price index increased by 13.3% y/y and moved down by 0.4% on a monthly basis in the first month of the year.

In 2022, the average inflation was 14.2%, up from just 3.2% in 2021.

#NorthMacedonia #bneChart #macro #inflation

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