Bulgaria reports annual deflation of 0.7% in August

Written by on September 12, 2013 in Business - No comments

Bulgaria’s consumer price index shrank for a sixth consecutive month in August, pushing the annual figures to show 0.7 per cent deflation, data from the National Statistical Institute (NSI) showed on September.

In August, monthly deflation was 0.6 per cent, mainly because of the seasonal decrease in the price of foodstuffs and another round of electricity price cuts.

Food prices were 0.8 per cent lower than in July and services prices were down 1.3 per cent, while non-food prices rose by 0.1 per cent, NSI said.

In terms of annual inflation, food prices were 1.2 per cent higher than at the end of August 2012. Services were 3.7 per cent cheaper while non-food prices fell by 1.2 per cent over the past 12 months, NSI data showed.

The harmonised consumer price index (CPI), calculated by the statistics board for comparison with European Union data, shrank by 0.2 per cent. On an annual basis, the harmonised CPI recorded 0.7 per cent deflation, compared to zero per cent in July.

Food and beverages were one per cent cheaper, on an annual basis, while the price of utilities and rent had fallen 5.9 per cent and transportation costs were down two per cent over the previous 12 months. The three categories account for just over half of the harmonised consumer price index.

(Photo: svilen001/sxc.hu)

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