EU annual inflation stays flat in September, Bulgarian CPI up

Written by on October 16, 2012 in Bulgaria, Business, Europe, News - No comments

Annual inflation was unchanged in September, both in the euro zone and the European Union as a whole, but the annual consumer price index in Bulgaria has continued its steady upward march, data from EU’s statistics board Eurostat showed on October 16.

Monthly inflation in the euro area was 0.7 per cent, enough to keep the annual rate unchanged at 2.6 per cent. Inflation in the EU as a whole was 0.6 per cent in September, staying flat at 2.7 per cent for the year.

In Bulgaria, monthly inflation was a modest 0.3 per cent, but it pushed the annual figure to 3.4 per cent. The annual harmonised consumer price index, calculated for cross-border comparison within the EU, has jumped more than twice in Bulgaria, from 1.6 per cent in June – hoisted by a large electricity price hike in July and high fuel prices in August.

But inflation in Bulgaria was far from the highest recorded in the 27-nation bloc; that distinction belonged to Hungary (6.4 per cent), Romania (5.4 per cent) and Estonia (4.1 per cent). The lowest annual rates were observed in Greece (0.3 per cent), Sweden (one per cent) and Latvia (1.9 per cent). Overall, annual inflation rose in 11 EU member states, remained stable in five and fell in 10.

(Photo: Michael Faes/sxc.hu)

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