Bulgarian annual inflation falls to 0.5% in July

Written by on August 13, 2013 in Business - No comments

Bulgaria’s consumer price index recorded deflation for the fifth consecutive month in July, while the annual inflation figure fell to 0.5 per cent, data from the National Statistical Institute (NSI) showed on August 13.

The consumer price index recorded 0.5 per cent deflation in July, mainly because of the seasonal decrease in the price of foodstuffs.

Food prices were 1.5 per cent lower than in June, while non-food prices were down by 0.6 per cent, while services prices rose by 0.7 per cent compared to June, NSI said.

Annual inflation fell from 2.6 per cent in June to 0.5 per cent in July – mainly because the 13 per cent electricity prices hike from July 2012 was now part of the baseline figure.

In terms of annual inflation, food prices were three per cent higher than at the end of July 2012. Services were 2.3 per cent cheaper while non-food prices fell by 0.7 per cent over the past 12 months, NSI data showed.

The harmonised consumer price index, calculated by the statistics board for comparison with European Union data, shrank by 0.1 per cent. On an annual basis, harmonised inflation was zero per cent, compared to 1.2 per cent in June.

Food and beverages were 1.4 per cent cheaper, while the price of utilities and rent were unchanged in July and transportation costs rose by only 0.2 per cent. The three categories account for just over half of the harmonised consumer price index.

(Photo: svilen001/sxc.hu)

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