North Macedonia's CPI Rises 3.5 Percent in October
Items essential to daily life saw notable price increases: mineral water, soft drinks, and juices were up by 12.1 percent year-on-year, vegetables rose by 11.9 percent, and tobacco prices climbed 10.8 percent.
Conversely, prices for electricity, gas, and other fuels declined by 1.7 percent year-on-year, with liquid fuels seeing a sharp drop of 17.7 percent, offering some relief to household expenses.
The CPI saw a monthly decrease of 0.7 percentage point in October, suggesting that inflation has peaked and is beginning to ease.
Inflationary pressure has been gradually diminishing, with December 2023 showing a 9.4 percent year-on-year increase, compared to 14.2 percent in December 2022.
An increase in average salaries, which rose by 13.2 percent year-on-year in August, may help offset the higher cost of living, according to the SSO.
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