FX.co ★ North Macedonia Producer Inflation Slows to 10-Month Low

In July 2025, North Macedonia's annual producer inflation rate decelerated to 4.9%, continuing its downward trend for the fifth month in a row, following a 5.3% rate in June. This represents the smallest increase in producer prices since September 2024. The easing was primarily due to a reduction in energy costs, which grew at a slower rate (7.5% compared to 8.0% in June), alongside moderated increases in intermediate goods excluding energy (0.9% down from 1.3%), capital goods (12.7% from 12.9%), and consumer goods (3.7% from 4.1%). Specifically, within the consumer goods category, the growth of non-durable goods slowed down (3.9% from 4.4%), whereas there was an uptick for durable goods (1.1% from 0.5%). Month-over-month, producer prices dropped by 0.4% in July, a reversal from the 0.4% increase recorded in June.