Bulgaria annual deflation down to 0.6% in August

Written by on September 15, 2014 in Business - Comments Off on Bulgaria annual deflation down to 0.6% in August

Bulgaria’s consumer price index (CPI) posted another month of deflation, shrinking by 0.2 per cent in August, but the annual deflation figure at the end of the month decreased to 0.6 per cent, data from the National Statistical Institute (NSI) showed on September 15.

This was only the sixth month this year with negative price growth, led by non-food prices that fell by 0.6 per cent and food prices with 0.4 per cent decline. Services prices were 0.3 per cent higher than in July.

In annual terms, food prices were 0.3 per cent higher compared to August 2013, while non-food prices were 1.5 per cent down and services were one per cent cheaper, as the second of three electricity price cuts ordered by the regulator last year now part of the baseline figure.

The harmonised CPI figure, calculated by the statistics board for comparison with European Union data, fell by 0.1 per cent in August. On an annual basis, the harmonised CPI was one per cent lower than in August 2013, down from 1.1 per cent deflation recorded in July.

Food and beverages were 0.1 per cent cheaper, on an annual basis, while the price of utilities and rent has fallen by 0.4 per cent and transportation costs were down 1.4 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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