The appropriate monetary policy, the stabilization of food prices on world markets, as well as the temporary freezing of food prices in our country have contributed to the reduction of inflation, the credit ratings agency Fitch points out in its latest report on the country, in which confirms the credit rating of BB+ with a stable outlook, the Macedonian National Bank informed on Saturday.
The report said that due to tight monetary policy, inflation eased to 3% in February, compared to 19.8% in October 2022, when it peaked. Fitch forecasts that average inflation will also decrease in 2024 and 2025. According to them, rapid wage growth is an upside risk for inflation. However, they point out that increased profit margins in recent years can offset some of the higher costs and contribute to reducing the risk of higher inflation.
