Bulgaria annual deflation at 1.9% in June

Written by on July 15, 2014 in Business - Comments Off on Bulgaria annual deflation at 1.9% in June

Bulgaria’s consumer price index shrank again in June, by 0.4 per cent, but the annual deflation figure at the end of the month fell slightly to 1.9 per cent, data from the National Statistical Institute (NSI) showed on July 15.

This made June the fifth month with deflation so far this year, with only April seeing an increase in the consumer price index (CPI), and the eighth month of decline over the past 12 months.

Food prices were 1.1 per cent lower than in May, and non-food prices were 0.4 per cent lower, while services prices rose by 0.5 per cent, NSI said.

In annual terms, food prices were two per cent lower than at the end of June 2013. Services were 2.8 per cent cheaper – with the first of three electricity price cuts ordered by the regulator last year now part of the baseline figure – and non-food prices fell by 1.5 per cent over that period, NSI data showed.

The harmonised CPI figure, calculated by the statistics board for comparison with European Union data, shrank by 0.3 per cent in June. On an annual basis, the harmonised CPI recorded 1.8 per cent deflation, unchanged from the previous month.

Food and beverages were 2.2 per cent cheaper, on an annual basis, while the price of utilities and rent has fallen by 3.4 per cent and transportation costs were down 2.7 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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