North Macedonia - Inflation, consumer prices (annual %) 1994 - 2022
North Macedonia's inflation, consumer prices (annual %) is currently 14.2%, according to the most recent World Bank data for the country (2022).
Definition
The consumer price index gauges inflation by indicating the yearly percentage shift in the expenses for an average consumer to procure a collection of goods and services, which could either remain constant or alter at specified periods like annually; typically employing the Laspeyres formula.- North Macedonia's inflation, consumer prices (annual %) for 2022 was 14.205%, a 339.67% increase from 2021, with a +10 difference.
- In 2021 it was 3.231%, a 169.21% increase from 2020, with a +2 difference.
- In 2020 it was 1.2%, a 56.58% increase from 2019.
- In 2019 it was 0.766%, a -47.44% increase from 2018.
- In 2018 it was 1.458%, a 7.89% increase from 2017.
Measure: Percent
Average, Lowest, and Highest Recorded Values
The average inflation, consumer prices (annual %), value for North Macedonia is currently 7.138% (average of years with recorded data) with a lowest recorded value of -1.2793% in 1999 and a highest value of 126.5834% in 1994.
North Macedonia's Inflation, consumer prices (annual %) - Historical Data
| Year | Inflation, consumer prices (annual %) | Average Growth Rate (%) |
|---|---|---|
| 1994 | 126.583% | |
| 1995 | 16.374% | -87.06% |
| 1996 | 2.467% | -84.94% |
| 1997 | 1.294% | -47.52% |
| 1998 | 0.544% | -57.96% |
| 1999 | -1.279% | -335.08% |
| 2000 | 6.607% | 616.49% |
| 2001 | 5.199% | -21.32% |
| 2002 | 2.315% | -55.48% |
| 2003 | 0.856% | -63.04% |
| 2004 | -0.449% | -152.44% |
| 2005 | 0.526% | 217.13% |
| 2006 | 3.214% | 511.52% |
| 2007 | 2.252% | -29.93% |
| 2008 | 8.332% | 270.02% |
| 2009 | -0.74% | -108.88% |
| 2010 | 1.51% | 304.15% |
| 2011 | 3.905% | 158.60% |
| 2012 | 3.316% | -15.08% |
| 2013 | 2.785% | -16.01% |
| 2014 | -0.282% | -110.12% |
| 2015 | -0.3% | -6.47% |
| 2016 | -0.239% | 20.22% |
| 2017 | 1.352% | 664.84% |
| 2018 | 1.458% | 7.89% |
| 2019 | 0.766% | -47.44% |
| 2020 | 1.2% | 56.58% |
| 2021 | 3.231% | 169.21% |
| 2022 | 14.205% | 339.67% |
Expand
Comparison with Countries in the Europe & Central Asia Region.
Among countries in the same World Bank Europe & Central Asia (ECA) region, North Macedonia comes in 12th with 14.205% inflation, consumer prices (annual %).
- Within the same region, Moldova comes in 2nd with 28.737%, inflation, consumer prices (annual %).
- Ukraine comes in 3rd with 20.184%.
- Lithuania comes in 4th with 19.705%.
- Estonia comes in 5th with 19.398%.
- Latvia comes in 6th with 17.31%.
- Bulgaria comes in 7th with 15.325%.
- Belarus comes in 8th with 15.21%.
- Czechia comes in 9th with 15.1%.
- Hungary comes in 10th with 14.608%.
- Poland comes in 11th with 14.43%.
- Bosnia and Herzegovina comes in 13th with 14.021%.
- Kyrgyz Republic comes in 14th with 13.923%.
- Azerbaijan comes in 15th with 13.852%.
- Romania comes in 16th with 13.796%.
- Montenegro comes in 17th with 13.04%.
- Slovak Republic comes in 18th with 12.774%.
- Serbia comes in 19th with 11.982%.
- Georgia comes in 20th with 11.898%.
- Kosovo comes in 21st with 11.581%.
- And Uzbekistan comes in 22nd with 11.447%, inflation, consumer prices (annual %).
Inflation, consumer prices (annual %), Top 10 Countries in the Europe & Central Asia Region.
Top 10 Countries in the Europe & Central Asia Region.
| # | Country | Inflation, consumer prices (annual %) | Year |
|---|---|---|---|
| 1 | Turkiye | 72.31% | 2022 |
| 2 | Moldova | 28.74% | 2022 |
| 3 | Ukraine | 20.18% | 2022 |
| 4 | Lithuania | 19.70% | 2022 |
| 5 | Estonia | 19.40% | 2022 |
| 6 | Latvia | 17.31% | 2022 |
| 7 | Bulgaria | 15.33% | 2022 |
| 8 | Belarus | 15.21% | 2022 |
| 9 | Czechia | 15.10% | 2022 |
| 10 | Hungary | 14.61% | 2022 |
Comparison with Countries in the Upper middle income Group.
Among countries in the same World Bank Upper middle income (UMI) group, North Macedonia comes in 7th with 14.205% inflation, consumer prices (annual %).
- Within the same income group, Venezuela, RB comes in 1st with 254.949%, inflation, consumer prices (annual %).
- Turkiye comes in 2nd with 72.309%.
- Suriname comes in 3rd with 52.446%.
- Moldova comes in 4th with 28.737%.
- Bulgaria comes in 5th with 15.325%.
- Belarus comes in 6th with 15.21%.
- Bosnia and Herzegovina comes in 8th with 14.021%.
- Azerbaijan comes in 9th with 13.852%.
- Montenegro comes in 10th with 13.04%.
- Palau comes in 11th with 12.353%.
- Serbia comes in 12th with 11.982%.
- Georgia comes in 13th with 11.898%.
- Botswana comes in 14th with 11.666%.
- Kosovo comes in 15th with 11.581%.
- Tonga comes in 16th with 10.971%.
- And Mauritius comes in 17th with 10.774%, inflation, consumer prices (annual %).
Inflation, consumer prices (annual %), Top 14 Countries in the Upper middle income Group.
Top 14 Countries in the Upper middle income Group.
| # | Country | Inflation, consumer prices (annual %) | Year |
|---|---|---|---|
| 1 | Venezuela, RB | 254.949% | 2016 |
| 2 | Turkiye | 72.309% | 2022 |
| 3 | Suriname | 52.446% | 2022 |
| 4 | Moldova | 28.737% | 2022 |
| 5 | Bulgaria | 15.325% | 2022 |
| 6 | Belarus | 15.210% | 2022 |
| 7 | North Macedonia | 14.205% | 2022 |
| 8 | Bosnia and Herzegovina | 14.021% | 2022 |
| 9 | Azerbaijan | 13.852% | 2022 |
| 10 | Montenegro | 13.040% | 2022 |
| 11 | Palau | 12.353% | 2022 |
| 12 | Serbia | 11.982% | 2022 |
| 13 | Georgia | 11.898% | 2022 |
| 14 | Botswana | 11.666% | 2022 |