Inflation rates by country and year

-1.3%3.1%7.5%12%16.4%126.6%
-1.3%3.1%7.5%12%16.4%126.6%
1994126.6%
2009-0.7%
20254.1%
Source: World Bank

Data: World Bank, annual %. For information only — not financial advice.

Year2025Inflation Rate4.1%

Behind the curve

Turning points in North Macedonia

  1. 1994↑ Upward pressure

    The economy of North Macedonia — Wikipedia (opens in a new tab)

    The early post-independence transition produced high inflation before the denar was stabilised.

    National Bank of the Republic of North Macedonia
  2. 2008↑ Upward pressure

    The world food price crisis — Wikipedia (opens in a new tab)

    The 2007–08 global food and fuel surge pushed North Macedonian inflation to a peak in 2008.

    National Bank of the Republic of North Macedonia
  3. 2022↑ Upward pressure

    The post-pandemic inflation surge — Wikipedia (opens in a new tab)

    Higher global food and energy prices lifted North Macedonian inflation in 2022.

    National Bank of the Republic of North Macedonia

These are selected historical influences, not a complete account of inflation. An upward-pressure event can coincide with a peak when its inflationary effect has already occurred or when other forces begin pushing inflation lower. The markers show the years in which events occurred, although their effects may extend into later years.

What is the inflation in North Macedonia?

The annual inflation rate in North Macedonia was 4.1% in 2025, the most recent year in the World Bank dataset. That means prices rose 4.1% on average compared with the year before. Use the chart above to explore North Macedonia's full inflation history from 1994 to 2025, and to compare it with any other country.

How inflation in North Macedonia has changed

Inflation in North Macedonia peaked at 126.6% in 1994 and reached its lowest point at -1.3% in 1999. Averaged across the 32 years of available data (1994–2025), the rate has been 7.0% per year.

Frequently asked questions about inflation in North Macedonia

What is the current inflation rate in North Macedonia?

The latest available annual figure is 4.1% in 2025, from the World Bank. Because the figures are reported annually, they may not reflect the most recent monthly reading published by North Macedonia's statistical office.

What was the highest inflation rate in North Macedonia?

The highest annual inflation rate on record is 126.6%, reached in 1994.

What was the lowest inflation rate in North Macedonia?

The lowest annual inflation rate on record is -1.3%, recorded in 1999.

Where does the inflation data for North Macedonia come from?

All figures come from the World Bank's World Development Indicators (indicator FP.CPI.TOTL.ZG), which report annual consumer price inflation for more than 200 countries and territories from 1960 onward.