Macedonian Denar Inflation Calculator
MKD 100.00 in 1993 has the same buying power as MKD 603.55 in 2026.
Convert Macedonian Denar between any two years
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MKD 100.00 in 2001 is worth MKD 198.11 in 2026
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Inflation analysis
Inflation in North Macedonia
This page covers 34 years of North Macedonia consumer price data, from 1993 to 2026. Series that begin this late usually do so because the country, the currency or the statistical agency behind the index did not exist in its current form before then. The steepest single year on record was 1994, when consumer prices in North Macedonia rose 126.6%. Prices more than doubled within that single year.
Prices fell in 6 of those 33 years, including in recent decades — about 18% of the time — most sharply in 1999, when they dropped 1.3%. In a year like that money gained purchasing power rather than losing it. By decade, the 1990s were the most inflationary stretch, averaging 24.3% a year, while the 2010s were the calmest at 1.4%. Over the last ten years inflation has averaged 4.4% a year, below the 6.9% average across the whole record.
North Macedonia CPI and inflation rate by year
The full annual series behind this calculator, from 1993 to 2026. The final column shows what MKD 100.00 in that year is worth in 2026 money.
| Year | CPI index | Inflation | MKD 100.00 then, in 2026 |
|---|---|---|---|
| 2026 | 151.80 | 4.50% | MKD 100.00 |
| 2025 | 145.27 | 4.07% | MKD 104.50 |
| 2024 | 139.58 | 3.49% | MKD 108.76 |
| 2023 | 134.88 | 9.36% | MKD 112.55 |
| 2022 | 123.33 | 14.20% | MKD 123.09 |
| 2021 | 107.99 | 3.23% | MKD 140.57 |
| 2020 | 104.61 | 1.20% | MKD 145.11 |
| 2019 | 103.37 | 0.77% | MKD 146.86 |
| 2018 | 102.58 | 1.46% | MKD 147.98 |
| 2017 | 101.11 | 1.35% | MKD 150.14 |
| 2016 | 99.76 | -0.24% | MKD 152.17 |
| 2015 | 100.00 | -0.30% | MKD 151.80 |
| 2014 | 100.30 | -0.28% | MKD 151.35 |
| 2013 | 100.58 | 2.79% | MKD 150.92 |
| 2012 | 97.86 | 3.32% | MKD 155.13 |
| 2011 | 94.72 | 3.90% | MKD 160.27 |
| 2010 | 91.16 | 1.51% | MKD 166.53 |
| 2009 | 89.80 | -0.74% | MKD 169.04 |
| 2008 | 90.47 | 8.33% | MKD 167.79 |
| 2007 | 83.51 | 2.25% | MKD 181.77 |
| 2006 | 81.67 | 3.21% | MKD 185.87 |
| 2005 | 79.13 | 0.53% | MKD 191.84 |
| 2004 | 78.72 | -0.45% | MKD 192.85 |
| 2003 | 79.07 | 0.86% | MKD 191.98 |
| 2002 | 78.40 | 2.31% | MKD 193.62 |
| 2001 | 76.63 | 5.20% | MKD 198.11 |
| 2000 | 72.84 | 6.61% | MKD 208.40 |
| 1999 | 68.33 | -1.28% | MKD 222.17 |
| 1998 | 69.21 | 0.54% | MKD 219.33 |
| 1997 | 68.84 | 1.29% | MKD 220.53 |
| 1996 | 67.96 | 2.47% | MKD 223.38 |
| 1995 | 66.32 | 16.37% | MKD 228.89 |
| 1994 | 56.99 | 126.58% | MKD 266.37 |
| 1993 | 25.15 | — | MKD 603.55 |
North Macedonia inflation FAQ
- What is the current inflation rate in North Macedonia?
- North Macedonia inflation was 4.50% in 2026, the most recent year in this dataset, measured as the change in the annual average consumer price index from 2025.
- How much has Macedonian Denar lost in value since 1993?
- MKD 100.00 in 1993 has the same purchasing power as MKD 603.55 in 2026. That is cumulative inflation of 503.55% over 33 years, an average of 5.60% per year.
- What years does this North Macedonia inflation calculator cover?
- This calculator covers 34 years, from 1993 to 2026. You can convert an amount between any two years in that range.
- Can Macedonian Denar inflation be negative?
- Yes. Negative inflation, or deflation, means prices fell and Macedonian Denar gained purchasing power over that year. North Macedonia recorded deflation in 6 of the 33 years measured here, most recently in 2016. The steepest fall was -1.28% in 1999.
- What is the difference between CPI and the inflation rate?
- The consumer price index (CPI) is a level: it measures the cost of a fixed basket of goods and services in a given year. The inflation rate is the percentage change in that level between two periods. This calculator uses the ratio of CPI values for your two chosen years to convert an amount between them.
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