Bulgaria’s annual consumer price index (CPI) recorded 0.1 per cent inflation in December 2016, compared to 0.5 per cent deflation a month earlier, with prices up 0.6 per cent on a monthly basis, according to data released by the National Statistical Institute (NSI) on January 13.
December was only the third month in 2016 to record price growth and the first time in the year that the annual CPI recorded inflation.
Food prices rose by 0.9 per cent in December and services prices were up 0.7 per cent as well, while non-food prices were 0.2 per cent higher. In annual terms, food prices were 1.1 per cent higher than in December 2015, while non-food prices were down 0.2 per cent and services prices shrank by 1.1 per cent.
The harmonised CPI figure, calculated by NSI for comparison with European Union data, recorded an increase of 0.8 per cent on a monthly basis, but the annual harmonised CPI remained in deflationary territory for the 41st consecutive month, having shrunk by 0.5 per cent compared to December 2015.
Food and beverage prices were 1.3 per cent up, on an annual basis, while the price of utilities and housing has decreased by 1.3 per cent and transportation costs were 2.7 per cent lower compared to a year earlier. The three categories account for about 47 per cent of the harmonised CPI basket.