Inflation North Macedonia 2008
Average inflation: 8.4%
Current Inflation
Inflation is very high at 8.4%, far above the ECB target.
Peak and Trough
The highest inflation was in March at 10.0%. The lowest inflation was in December at 5.2%.
- Highest month
- March: 10.0%
- Lowest month
- December: 5.2%
- Difference
- 4.8 percentage points
- Months with data
- 12 of 12
Category Insights
The highest price increase was in Food with an average of 15.0%. The lowest price increase was in Core inflation with an average of 5.7%.
- Highest increase
- Food: 15.0%
- Lowest increase
- Core inflation: 5.7%
Historical Context
Current inflation is 5.6% higher than the 5-year average of 2.8%. This approaches the highest level since records began (8.4% in 2008).
- 5-year average
- 2.8%
- 10-year average
- 2.5%
- All-time high (2008)
- 8.4%
- All-time low (2004)
- -0.5%
Trend
Inflation shows an upward trend. Compared to 2007, inflation has risen by +6.1 percentage point.
- Change vs. previous year
- +6.1 percentage points
- Largest monthly swing
- March: +8.9 percentage points
ECB Target
Inflation is 6.4% above the ECB target of 2.0%. This means purchasing power is declining faster than intended.
Purchasing Power
At this high inflation rate, purchasing power rapidly decreases. This has a major impact on households, especially without adequate salary increases.
What you could buy for €100 this year will cost approximately €108.40 next year at this inflation rate.
Multi-year trend
Monthly figures 2008
Inflation by category
Inflation differs per product group. Click on a category for the historical trend.
Month overview
| Month | Inflation | Difference vs. 2007 |
|---|---|---|
| January | 8.5% | +7.2 |
| February | 9.4% | +8.5 |
| March | 10.0% | +8.9 |
| April | 10.0% | +8.8 |
| May | 9.4% | +8.7 |
| June | 9.9% | +8.6 |
| July | 9.2% | +8.0 |
| August | 8.3% | +6.1 |
| September | 7.1% | +3.7 |
| October | 7.3% | +3.5 |
| November | 6.0% | +1.7 |
| December | 5.2% | -0.5 |
| Average | 8.4% |
Data source
Data from WorldBank. Last updated: 06/01/2026.