The cost of living in North Macedonia rose by 0.4% in October compared with September. Compared with October of last year, inflation in North Macedonia reaches 3.3%. The data were published by the State Statistical Office. According to this institution, retail prices recorded an annual increase of 3.2% overall.
On a monthly basis, alcoholic beverages and tobacco rose the most, by 2.5%. Clothing and footwear, as well as spending on recreation, sport and culture, increased by 1.2%. Food and non-alcoholic beverages, which make up the largest share of citizens’ daily spending, rose by 0.7%.
However, not all categories recorded increases. Furniture and household appliances fell by 1.3%. Restaurants and accommodation services fell by 0.7%, while transport fell by 0.3%.
The annual comparison shows significantly larger increases in some sectors. Transport leads with a price increase of 9.5%. According to the Office, this means spending in this sector is much higher than a year ago. It is followed by recreation, sport and culture at 8.5%, and alcoholic beverages and tobacco at 7.8%.
The most pronounced increase was recorded in petroleum derivatives, mainly as a consequence of the US-Iran conflict. This increase has also affected other industries, while inflation in North Macedonia remains among the key indicators of this development.