North Macedonia’s domestic industrial producer price index (PPI) jumped by an annual 22.3% in October, decelerating from a 24.9% y/y increase in the previous month (chart), statistics office data indicated on November 28.
The annual growth was driven mostly by the increase in PPI in the manufacturing sector. The PPI has started to grow rapidly since February 2021. It has started to show signs of slowdown in September 2022. In the meantime, the country's average annual inflation accelerated up to 19.8% in October.
On a monthly basis, industrial producer index ticked up by 0.6% in October, after edging up 0.4% in the previous month.
Producer prices in utilities increased the most, by an annual 33.2% in October.
Prices in the key manufacturing sector grew by 21.1% y/y, while mining sector prices rose by 3.2% y/y.
In the first ten months the PPI was higher by 22.2%.