Inflation North Macedonia 2004
Average inflation: -0.5%
Current Inflation
There is deflation with consumer prices declining by 0.5%.
Peak and Trough
The highest inflation was in January at 1.9%. The lowest inflation was in December at -2.1%.
- Highest month
- January: 1.9%
- Lowest month
- December: -2.1%
- Difference
- 4.0 percentage points
- Months with data
- 12 of 12
Category Insights
The highest price increase was in Food with an average of -2.9%. The lowest price increase was in Food with an average of -2.9%.
- Highest increase
- Food: -2.9%
- Lowest increase
- Food: -2.9%
Historical Context
Current inflation is 0.7% lower than the 5-year average of 0.2%.
- 5-year average
- 0.2%
- 10-year average
- 0.2%
- All-time high (2003)
- 0.9%
- All-time low (2004)
- -0.5%
Trend
Inflation shows a downward trend. Compared to 2003, inflation has fallen by +1.4 percentage point.
- Change vs. previous year
- -1.4 percentage points
- Largest monthly swing
- December: -4.4 percentage points
ECB Target
Inflation is 2.5% below the ECB target of 2.0%. Too low inflation may indicate economic weakness.
Purchasing Power
Due to deflation, purchasing power increases. Money becomes more valuable instead of less.
What you could buy for €100 this year will cost approximately €99.50 next year at this inflation rate.
Multi-year trend
Monthly figures 2004
Inflation by category
Inflation differs per product group. Click on a category for the historical trend.
Month overview
| Month | Inflation | Difference vs. 2003 |
|---|---|---|
| January | 1.9% | +1.5 |
| February | 1.6% | +1.9 |
| March | 1.5% | +2.3 |
| April | -0.7% | -0.6 |
| May | -0.7% | -0.9 |
| June | -0.2% | -0.6 |
| July | -1.2% | -3.1 |
| August | -1.8% | -3.7 |
| September | -2.0% | -3.7 |
| October | -0.9% | -2.1 |
| November | -0.9% | -2.5 |
| December | -2.1% | -4.4 |
| Average | -0.5% |
Data source
Data from WorldBank. Last updated: 06/01/2026.