North Macedonia Inflation Rate 1994-2024

Inflation as measured by the consumer price index reflects the annual percentage change in the cost to the average consumer of acquiring a basket of goods and services that may be fixed or changed at specified intervals, such as yearly. The Laspeyres formula is generally used.
  • North Macedonia inflation rate for 2022 was 14.20%, a 10.97% increase from 2021.
  • North Macedonia inflation rate for 2021 was 3.23%, a 2.03% increase from 2020.
  • North Macedonia inflation rate for 2020 was 1.20%, a 0.43% increase from 2019.
  • North Macedonia inflation rate for 2019 was 0.77%, a 0.69% decline from 2018.
Data Source: World Bank

MLA Citation:
Similar Country Ranking
Country Name Inflation Rate (%)
Turkey 72.31%
Suriname 52.45%
Bulgaria 15.33%
Belarus 15.21%
North Macedonia 14.20%
Bosnia 14.02%
Azerbaijan 13.85%
Romania 13.80%
Montenegro 13.04%
Serbia 11.98%
Botswana 11.67%
Tonga 10.97%
Samoa 10.96%
Mauritius 10.77%
Jamaica 10.35%
Colombia 10.18%
Paraguay 9.77%
Brazil 9.28%
Algeria 9.27%
Dominican Republic 8.81%
Armenia 8.64%
Peru 8.33%
Costa Rica 8.27%
Mexico 7.90%
South Africa 7.04%
Guatemala 6.89%
Albania 6.73%
St. Lucia 6.38%
Namibia 6.08%
Thailand 6.08%
St. Vincent and the Grenadines 5.66%
Iraq 4.99%
Equatorial Guinea 4.79%
Fiji 4.52%
Gabon 4.23%
Jordan 4.23%
Ecuador 3.47%
Malaysia 3.38%
Maldives 2.33%
China 1.97%
North Macedonia Inflation Rate - Historical Data
Year Inflation Rate (%) Annual Change
2022 14.20% 10.97%
2021 3.23% 2.03%
2020 1.20% 0.43%
2019 0.77% -0.69%
2018 1.46% 0.11%
2017 1.35% 1.59%
2016 -0.24% 0.06%
2015 -0.30% -0.02%
2014 -0.28% -3.07%
2013 2.79% -0.53%
2012 3.32% -0.59%
2011 3.90% 2.39%
2010 1.51% 2.25%
2009 -0.74% -9.07%
2008 8.33% 6.08%
2007 2.25% -0.96%
2006 3.21% 2.69%
2005 0.53% 0.97%
2004 -0.45% -1.30%
2003 0.86% -1.46%
2002 2.31% -2.88%
2001 5.20% -1.41%
2000 6.61% 7.89%
1999 -1.28% -1.82%
1998 0.54% -0.75%
1997 1.29% -1.17%
1996 2.47% -13.91%
1995 16.37% -110.21%
1994 126.58% -110.21%