Skopje, 10 September 2025 (MIA) - Slowing inflation on a monthly basis is a good indicator of core inflation, says Prime Minister Hristijan Mickoski, who expects the trend to continue and reach below three percent. In response to reporters' questions on Wednesday, he said the government is pursuing a stable macroeconomic policy.

"That is the monthly rate, including the annual rate. If you look at it, compared to July, we see a decrease from 4.8 to 4.4 percent. I expect this trend to slowly continue, to reach the stable below 3 percent, let's say around 2-2.5. That is what we expect in the coming period," said Mickoski. 

For the Prime Minister, an in-depth analysis is important. According to him, it shows that for the first time, core inflation turns negative. 

"However, what's important is that if an in-depth analysis is done, it will show that on a monthly basis, for the first time, core inflation turns negative, i.e. in minus. This is a good indicator that there is a slow stagnation and reduction in core inflation, which was the main driver of general inflation," Mickoski said.

He added that the government is pursuing a prudent macroeconomic policy despite criticism from trade unions, noting that this trend will continue.

"The measures are not as intensive. We have decided, despite the criticism we receive from certain non-governmental organizations and trade unions, to pursue a very prudent macroeconomic policy, to strike a balance between wage growth and inflation, i.e. wage growth should always be higher, at least twice as high as inflation growth, so that in net terms, citizens have a better standard. We will continue like this, without interventionism, without, I'd say, a policy, we tried, we attempted it in certain cases, but it did not bear fruit. The controls conducted by both the State Market Inspectorate and the Commission for the Protection of Competition are intensive. Normally, we do not make a show of it and announce all this in front of the camera, but monitoring is ongoing, and at least once or twice a week I receive reports from them," the PM said. 

PM Mickoski also said that companies selling school supplies are complying with the guidelines of the authorities, noting that the period covered is before the price reduction, so he expects a larger reduction for September.

In response to reporters' questions on core inflation, the PM added that there was a decrease in all products on a monthly basis, compared to August and July.

"On an annual basis, we see an increase again, but not as large as it was in July. Literally in all products," said the PM. 

Photo: MIA