North Macedonia Producer Inflation Slows to 10-Month Low

The annual producer inflation rate in North Macedonia eased to 4.9% in July 2025, marking the fifth consecutive monthly decline and slowing from 5.3% in June. This was the softest growth in producer prices since September 2024, driven by slower increases in energy costs (7.5% vs 8.0% in June), intermediate goods excluding energy (0.9% vs 1.3%), capital goods (12.7% vs 12.9%) and consumer goods (3.7% vs 4.1%). Within consumer goods, non-durables rose at a slower pace (3.9% vs 4.4%), while durables accelerated (1.1% vs 0.5%). On a monthly basis, producer prices fell 0.4% in July, reversing the 0.4% gain in June.