Inflation North Macedonia 2003
Average inflation: 0.9%
Current Inflation
Inflation is very low at 0.9%, well below the ECB target.
Peak and Trough
The highest inflation was in December at 2.3%. The lowest inflation was in March at -0.8%.
- Highest month
- December: 2.3%
- Lowest month
- March: -0.8%
- Difference
- 3.1 percentage points
- Months with data
- 12 of 12
Category Insights
The highest price increase was in Food with an average of -1.8%. The lowest price increase was in Food with an average of -1.8%.
- Highest increase
- Food: -1.8%
- Lowest increase
- Food: -1.8%
Historical Context
Current inflation is around the 5-year average of 0.9%. This approaches the highest level since records began (0.9% in 2003).
- 5-year average
- 0.9%
- 10-year average
- 0.9%
- All-time high (2003)
- 0.9%
- All-time low (2003)
- 0.9%
Trend
ECB Target
Inflation is 1.1% below the ECB target of 2.0%. Too low inflation may indicate economic weakness.
Purchasing Power
At this inflation rate, purchasing power gradually decreases. The impact on daily expenses is relatively limited.
What you could buy for €100 this year will cost approximately €100.90 next year at this inflation rate.
Multi-year trend
Monthly figures 2003
Inflation by category
Inflation differs per product group. Click on a category for the historical trend.
Month overview
| Month | Inflation |
|---|---|
| January | 0.4% |
| February | -0.3% |
| March | -0.8% |
| April | -0.1% |
| May | 0.2% |
| June | 0.4% |
| July | 1.9% |
| August | 1.9% |
| September | 1.7% |
| October | 1.2% |
| November | 1.6% |
| December | 2.3% |
| Average | 0.9% |
Data source
Data from WorldBank. Last updated: 06/01/2026.