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North Macedonia Inflation: Historical Data

Check North Macedonia's historical inflation and calculate how the value of money has changed over time. Data from 1991 to 2023.

Annual Inflation Visualization (North Macedonia)

Source: World Bank (1991-2023)

62.71% Historical average
1271.66% Maximum recorded
-0.17% Minimum recorded
33 Years of data

Historical Inflation Calculator for North Macedonia

Calculate how the value of money has changed between two specific years in North Macedonia.

Future Value Estimation

Estimate how the value of an amount of money will change in the future, given an average inflation rate.

Past Value Estimation

Estimate what the equivalent value of an amount of money would have been in the past, given an average inflation rate.

Historical inflation data for North Macedonia

Year Inflation (%) Change
2023 7.77% -1.11pp
2022 8.87% +4.59pp
2021 4.29% +2.91pp
2020 1.37% +0.51pp
2019 0.87% -3.06pp
2018 3.93% +1.12pp
2017 2.81% -0.66pp
2016 3.47% +1.46pp
2015 2.00% +0.56pp
2014 1.45% -3.04pp
2013 4.48% +3.48pp
2012 1.00% -2.72pp
2011 3.72% +1.68pp
2010 2.04% +1.75pp
2009 0.30% -5.20pp
2008 5.49% +0.90pp
2007 4.59% +1.34pp
2006 3.25% -1.64pp
2005 4.90% +5.06pp
2004 -0.17% -1.82pp
2003 1.65% +0.71pp
2002 0.94% -3.78pp
2001 4.72% -3.46pp
2000 8.18% +5.44pp
1999 2.74% +1.35pp
1998 1.39% -2.54pp
1997 3.93% +1.06pp
1996 2.86% -14.23pp
1995 17.09% -134.79pp
1994 151.89% -290.24pp
1993 442.13% -829.53pp
1992 1271.66% +1177.74pp
1991 93.92% -

About North Macedonia inflation

North Macedonia inflation measures the annual percentage change in the general level of consumer prices. This indicator is essential to understand how the purchasing power of money varies over time. Our North Macedonia inflation calculator allows you to visualize these changes and calculate monetary equivalences between different years.

What is inflation?

Inflation is the sustained and generalized increase in the price level of goods and services in an economy over a period of time. When inflation rises, each monetary unit buys fewer products. The inflation rate is generally measured by the Consumer Price Index (CPI), which reflects changes in the cost of a representative basket of goods and services.

How to use this inflation calculator?

Our North Macedonia inflation calculator offers three tools: 1) Historical calculator: enter a value and select two years to see how purchasing power has changed. 2) Future value: estimate what your money will be worth in the future with a projected inflation rate. 3) Past value: calculate the equivalent of a current amount in the past.

Data provided by the World Bank (World Bank Open Data). Data is updated annually.

Frequently Asked Questions

What is the current inflation in North Macedonia?
According to the latest available World Bank data, North Macedonia inflation in 2023 was 7.77%. This inflation rate represents the annual percentage change in the consumer price index (CPI).
How to calculate cumulative inflation in North Macedonia?
To calculate cumulative inflation in North Macedonia, use our historical calculator. Enter an initial value, select the start year and end year. The calculator will multiply the value by each year's inflation factors to give you the equivalent value and total cumulative inflation in percentage.
What was the highest inflation recorded in North Macedonia?
You can check North Macedonia's historical inflation in the chart and table on this page. The data shows the evolution of the annual inflation rate from 1991 to 2023, allowing you to identify periods of highest and lowest inflation.
How does inflation affect purchasing power?
Inflation reduces the purchasing power of money over time. For example, if inflation is 3% per year, what costs $100 today will cost $103 next year. Our inflation calculator helps you visualize exactly how much the real value of your money has changed in North Macedonia.
What is the historical average inflation in North Macedonia?
The historical average inflation in North Macedonia can be calculated with the data on this page. Check the statistics in the chart section where we show the historical average, as well as the maximum and minimum values recorded during the period 1991-2023.
What is the CPI and how does it relate to inflation?
The CPI (Consumer Price Index) is an indicator that measures the price variation of a basket of goods and services representative of household consumption. The inflation rate is calculated as the percentage change in the CPI between two periods. Our North Macedonia inflation data is based on the official CPI.