Bulgarian annual inflation stays flat at two per cent in May

Bulgaria’s annual consumer price inflation remained unchanged at two per cent in May, data from the National Statistical Institute (NSI) showed on June 12.

The consumer price index recorded 0.1 per cent deflation in May, shrinking for a third consecutive month. Unlike the previous two months, when deflation was the result of electricity price cuts in March and the seasonal decrease in the price of foodstuffs, this time NSI did not give a single overarching reason for the decline in CPI.

Food and non-food prices were down by 0.2 per cent and services prices fell by 0.1 per cent compared to April, NSI said.

In terms of annual inflation, food prices were four per cent higher than at the end of May 2012 and services were 1.5 per cent more expensive. Non-food prices fell by 0.3 per cent over the past 12 months, NSI data showed.

The harmonised consumer price index, calculated by the statistics board for comparison with European Union data, was flat in May. On an annual basis, harmonised inflation was one per cent.

Food and beverages, as well as the price of utilities and rent were unchanged in May, while transportation costs rose by only 0.1 per cent. The three categories account for just over half of the harmonised consumer price index.

(Photo: Alessandro Paiva)



The Sofia Globe staff

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