Brussels, 8 January 2025 (dpa-AFX/MIA) — Consumer prices in North Macedonia rose at their fastest pace in seven months in December, preliminary data from the statistical office showed on Wednesday.

The consumer price index rose 4.4% year-on-year following a 4.3% increase in November. The inflation rate was the highest since May when it was 4.5%.

The biggest annual increase was registered in the hotels and restaurants group where prices rose 12.1%. Prices in the food and non-alcoholic beverages group as well as those in the recreation and culture segment were over 5% higher. The smallest increase was in education costs, up 0.3%.

Consumer prices edged up 0.3% from November when they grew 1%.

In the full year 2024, inflation was 3.5% after a 9.4% increase in 2023. Inflation was the lowest since 2021 when it was 3.2%.

The retail price inflation was 4.3% in December and 3.8% in the year 2024.