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Inflation rates in North Macedonia

The inflation rate for consumer prices in North Macedonia moved over the past 27 years between -1.3% and 126.6%. For 2021, an inflation rate of 3.2% was calculated.

During the observation period from 1994 to 2021, the average inflation rate was 7.1% per year. Overall, the price increase was 329.35%. An item that cost 100 Denar in 1994 cost 429.35 Denar in the beginning of 2022.


Inflation rates in global comparison


Back to overview: North Macedonia

Performance over the last 27 years compared with the USA

In only a few countries are negative inflation rates achieved. This means that the general price level is declining and consumer prices get cheaper. This is called deflation. In comparison to most other countries, the drastic price increases are no longer average. Usually this is a sign of political and economic turmoil.

Performance based on 100% in 1993:Performance in North Macedonia

      North Macedonia       USA


Inflation calculator for North Macedonia

Enter any amount, an initial year and an end year here. You will then be provided with the original amount after inflation. Example: 1000 Denar in 1994 corresponds to 4,293.49 Denar at the beginning of 2022 due to inflation.

Original amount in Denar:


Start year:


End year:


Inflation rates for consumer goods in North Macedonia

Inflation rates for consumer goods in North Macedonia

      North Macedonia       USA

Historical inflation rates in comparison

YearNorth MacedoniaØ EUØ USAØ World
20213.23 %2.55 %4.70 %3.42 %
20201.20 %0.50 %1.23 %1.92 %
20190.77 %1.63 %1.81 %2.19 %
20181.46 %1.74 %2.44 %2.44 %
20171.35 %1.43 %2.13 %2.19 %
2016-0.24 %0.18 %1.26 %1.55 %
2015-0.30 %-0.06 %0.12 %1.43 %
2014-0.28 %0.20 %1.62 %2.35 %
20132.79 %1.22 %1.46 %2.62 %
20123.32 %2.66 %2.07 %3.73 %
20113.90 %3.29 %3.16 %4.82 %
20101.51 %1.53 %1.64 %3.35 %
2009-0.74 %0.84 %-0.36 %2.94 %
20088.33 %4.16 %3.84 %8.95 %
20072.25 %2.51 %2.85 %4.82 %
20063.21 %2.67 %3.23 %4.28 %
20050.53 %2.49 %3.39 %4.11 %
2004-0.45 %2.29 %2.68 %3.38 %
20030.86 %2.09 %2.27 %3.03 %
20022.31 %2.42 %1.59 %2.83 %
20015.20 %3.37 %2.83 %3.84 %
20006.61 %3.15 %3.38 %3.49 %
1999-1.28 %2.16 %2.19 %3.08 %
19980.54 %2.42 %1.55 %5.11 %
19971.29 %3.11 %2.34 %5.57 %
19962.47 %3.56 %2.93 %6.55 %
199516.37 %4.43 %2.81 %9.15 %
1994126.58 %4.72 %2.61 %10.32 %

Data basis: International Monetary Fund, World Bank and OECD Inflation CPI indicator (doi:10.1787/eee82e6e-en)
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