Bulgaria’s annual consumer price index (CPI) recorded 1.4 per cent inflation in January, compared to 0.1 per cent a month earlier, with prices up 1.3 per cent on a monthly basis, according to data released by the National Statistical Institute (NSI) on February 15.
This is the highest monthly inflation figure since July 2012, when a double-digit electricity price hike pushed monthly inflation up to 1.6 per cent. This time, the bulk of the jump was attributed to the increase in food prices, which were 3.4 per cent higher compared to December 2016, while non-food prices were up by 0.5 per cent and services prices were 0.1 per cent lower.
The annual inflation figure was the highest recorded since June 2013. In annual terms, food prices were 3.8 per cent higher than in January 2016, while non-food prices grew by 1.2 per cent and services prices shrank by 1.2 per cent.
The harmonised CPI figure, calculated by NSI for comparison with European Union data, recorded an increase of 0.7 per cent on a monthly basis, while the annual harmonised CPI in January was up 0.4 per cent – the first time it recorded inflation after 41 months in deflationary territory.
Food and beverage prices were 3.6 per cent up, on an annual basis, while the price of utilities and housing has increased by 0.3 per cent and transportation costs were 0.8 per cent lower compared to a year earlier. The three categories account for about 48 per cent of the harmonised CPI basket.