FX.co ★ Macedonia Producer Inflation at 5-Month High

North Macedonia’s annual producer inflation rate rose to 4.2% in February 2026, up from a sixteen‑month low of 3.8% in January. This was the highest rate since September of the previous year, driven primarily by higher energy costs, which surged 10.4%—their fastest increase since May 2025—after a 9.6% rise in January.

Price growth also strengthened across several main categories: capital goods (8.5% vs 7.5%), consumer goods (2.2% vs 1.7%), durable consumer goods (3.7% vs 1.1%), and non-durable consumer goods (2.0% vs 1.8%). In contrast, inflation for intermediate goods eased slightly to 2.2% from 2.3%.

By sector, producer prices increased further in mining and quarrying (17.4% vs 13.1%), manufacturing (3.3% vs 3.0%), and electricity, gas, steam and air conditioning supply (11.0% vs 10.0%), while remaining unchanged for water supply, sewerage, waste management and remediation activities (5.4%).

On a monthly basis, producer prices rose 1.0% in February, matching the increase recorded in January.