Bulgaria annual deflation slows down to 0.4% in October

Written by on November 12, 2014 in Business - Comments Off on Bulgaria annual deflation slows down to 0.4% in October

Bulgaria’s consumer price index (CPI) rose by 0.9 per cent in October, the highest monthly increase in two years, pushing the annual deflation figure at the end of the month down to 0.4 per cent, data from the National Statistical Institute (NSI) showed on November 12.

The monthly inflation in October was the highest since September 2012, when the CPI rose by 1.1 per cent. Since then, NSI has recorded only 10 months of inflation and 15 months with price decreases.

The main reason for the spike in October was a 4.3 per cent increase in the price of rent and utilities, which pushed services prices 2.1 per cent higher for the month. Food prices were 0.4 per cent higher and non-food prices were up 0.5 per cent compared to September.

In annual terms, food prices were 0.3 per cent lower than in October 2013 and non-food prices were 1.6 per cent down, while services were 0.5 per cent more expensive.

The harmonised CPI figure, calculated by the statistics board for comparison with European Union data, rose by 0.1 per cent in October. On an annual basis, the harmonised CPI was 1.5 per cent lower than in October 2013.

Food and beverages were 0.5 per cent cheaper, on an annual basis, and transportation costs were down 5.5 per cent over the previous 12 months, while the price of utilities and rent has increased by 4.3 per cent. The three categories account for just over half of the harmonised consumer price index.

(Photo: svilen001/sxc.hu)

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