Tag: inflation
Economy 21.10.23 | 19:58

Macedonia has the highest inflation and the lowest growth rate in the region

The latest World Bank report shows that the Macedonian economy has the worst performance in the region. Prime Minister Kovacevski predicted an inflation rate of 5.6 percent in 2023, but the report sets it at almost twice that number. The economic growth, on the other hand, is at 1.8 percent – the...
Economy 14.08.23 | 12:10

VMRO-DPMNE: The people are getting poorer every day, real salaries have decreased by 5.2%

The people’s standard of living is drastically diminishing, and the real value of the salaries has fallen by 5.2%, VMRO-DPMNE informs on Monday. “The real value of the series, the pensions, and other people’s incomes has decreased. Macedonia faced one of the largest inflation shocks...
Economy 07.07.23 | 20:02

Monthly cost of living estimated at a little over 48,500 denars

This June, the average Macedonian family spent 48,543 denars on basic necessities, shows data from SSM – the largest union in the country. SSM informs that there is a slight decrease in the value of the cost of living index in June, however, the prices of groceries are still increasing. The minimum...
Economy 27.06.23 | 12:15

IMF: The Central Bank’s monetary policy aided the gradual decrease of the inflation

The inflation is slowing, aided by the lower prices of energy and food, but also as a result of the tightened monetary policy. The Central Bank’s monetary policy contributed to the stabilization of the inflationary expectations, and gradual decrease of the inflation,  are the conclusions of the...
Economy 16.06.23 | 13:28

The data is overwhelming: Macedonians have a lower standard, but eat much more expensive food than the Europeans

The Macedonians eat much more expensive food than the Europeans, despite having much lower living standard, the “Inflation Monitor” for June 2023 reveals. The Monitor was prepared by the Parliamentarian Budget Office and the Swiss Development Agency. According to the data, the inflation in...
Economy 28.05.23 | 09:15

The Association of Financial Markets expects the inflation to fall below 10% in September

Expectations are that inflation will continue to decrease. By September we may even have single-digit inflation, so we may be optimistic in that regard, Bojan Cvetanovski, Chairman of ACI Macedonia – Association of Financial Markets, said on the panel discussion organized on the occasion of the...
Economy 07.03.23 | 22:27

Inflation watch: Prices went up by 25.3 percent in a year

In one year, the price of food and beverages went up by 25.3 percent, the State Statistics Bureau informed. According to their latest inflation related data, overall the cost of living went up by 16.7 percent and the index of retail prices went up by 12.4 percent yoy.
Economy 18.02.23 | 18:23

“Inflation in Macedonia is double that of the Eurozone”

VMRO-DPMNE President Hristijan Mickoski called out the Government for its failure to curb inflation, or even keep it at the level of the other countries in the region or Europe. Mickoski pointed out to the latest inflation data, showing that the cost of living in January is up by 17.1 percent yoy, and...
Economy 29.01.23 | 17:07

Citizens do not trust the state: Over 60 percent believe that it does not know how to deal with the crisis and inflation

Over 60 percent of citizens believe that the state is not ready to deal with the economic crisis and inflation, according to a phone poll conducted by the Institute for Political Research Skopje (IPIS) for the Detector show on a representative sample of 1,119 respondents conducted in the period from...
Economy 12.12.22 | 09:28

Macedonia has the highest inflation rate in the region, in Turkey it is three times higher than in Ukraine

There are only a few countries in Europe that managed to withstand the pressure and not pass into the zone of double-digit inflation. The statistics of “Visual Capitalist” illustrate what is happening in Europe and show which countries suffer the most from inflation, and which countries maintain...
Economy 10.12.22 | 11:39

Energy subsidies did not help bring down food prices

Even after the Government introduced subsidies for electricity for the biggest food manufacturers, prices in the supermarkets are not going down. The measure was meant to reduce inflation as prices have been spiking for months – the official inflation rate in November hit almost 20 percent, but...
Economy 08.12.22 | 09:45

State Statistical Office: November inflation at 19.5 percent

Consumer prices in November increased by 19.5 percent compared to the same month in 2021, while retail prices rose by 15.2 percent, said the State Statistical Office on Wednesday. An increase in the Consumer Price Index in November 2022, in comparison with the previous month, was registered in spirits...
Economy 26.11.22 | 12:15

Macedonia has one of the highest food inflation rates in the world

Macedonia faces one of the highest rates of food inflation in the world, VMRO-DPMNE said in a statement, citing the latest World Bank report, that puts Macedonia among the worst ten performers. The report shows Macedonia even with Turkey in this category, that subtracts overall inflation from the food...
Economy 12.11.22 | 12:03

What people used to buy with 500 denars, now they can’t even buy with 1,000 denars

The economy is sinking due to SDSM, high inflation, increased trade deficit, and large public debt, VMRO-DPMNE said in a press release. Macedonia with SDS has the highest inflation in Europe. Inflation of 20 percent eats away at people’s incomes. It is a lie that there is a wage increase; it is...
Economy 10.11.22 | 12:45

Trenovski: Inflation soaring in all countries, higher in open and import-dependent economies

The high inflation rate, reaching 19.8 percent in October, comes are a result of the economy’s reliance on imports, the modest national capacities for food and energy production, and the structure of consumption (53 percent spent on food and energy), says Faculty of Economics professor Borce Trenovski. Trenovski...
Economy 08.11.22 | 09:49

Macedonia with the highest inflation compared to the countries of former SFRY

Inflation in Macedonia is 19.8%, and thus the highest in the region of the former SFRY, Slovenia has almost twice smaller inflation as Macedonia, i.e. only 10%. Inflation for food and beverages is 32.4% in Macedonia and 17.2% in Slovenia. Statistics show that in Slovenia, with twice as high wages and...
Economy 31.10.22 | 11:47

Inflation watch: SDSM expects food prices to drop by 10 percent with the new energy subsidies program

In a statement, the ruling SDSM party said that it expects to see food prices drop, after the Government announced a package of energy subsidies for food producers. Macedonia is facing double digit inflation, with some food item prices up by over 50 percent. The program will reduce energy prices for...
Economy 20.10.22 | 22:26

Mickoski: Inflation is not only imported, the government also creates inflation, everything is more expensive

From 2007 to 2016, the GDP during that period increased by four billion 185 million euros, or about 418 million euros. And when that is compared with the public debt of an average of 290 million euros per year, then we arrive at a positive account at the end of the year of 128 million euros. So the Government...
Economy 10.09.22 | 12:51

Inflation reached 16.8 percent

Inflation in Macedonia is breaking records, and unfortunately it is one of the highest rates in all of Europe. In August, an official inflation rate of 16.8% was measured, which is far more than the countries in the entire region. In one year, citizens in Macedonia pay twice as much for basic life products,...
Economy 07.09.22 | 17:06

Inflation skyrockets, consumer prices climb by almost 17%

Consumer prices in August 2022 climbed by 16.8% and retail prices by 14.2% compared to August 2021, according to the latest figures released by the State Statistical Office. Cooking oil and bread are more expensive by almost 50 percent, dairy products are 30 percent more expensive, and the cost of purchasing...
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