Bulgaria reports 0.9% deflation in 2014

Bulgaria’s consumer price index (CPI) was flat in December 2014, but the annual deflation figure rose to 0.9 per cent at the end of the month, compared to 0.6 per cent a month earlier, data from the National Statistical Institute (NSI) showed on January 14.

During 2014, the monthly CPI showed an increase only three times, including a two-year high of 0.9 per cent inflation in October, while also recording eight months of deflation. The 12-month CPI average in 2014 was 1.4 per cent lower than in 2013.

In annual terms, food prices in 2014 fell by 0.9 per cent and non-food prices were 3.2 per cent down at the end of the year, while services were 1.4 per cent more expensive.

The harmonised CPI figure, calculated by the statistics board for comparison with European Union data, rose by 0.3 per cent in December. On an annual basis, the harmonised CPI was two per cent lower than in December 2013.

Food and beverages were 0.8 per cent cheaper, on an annual basis, and transportation costs were down 7.4 per cent over the previous 12 months, while the price of utilities and rent has increased by 4.5 per cent. The three categories account for just over half of the harmonised consumer price index.

(Photo: svilen001/sxc.hu)



The Sofia Globe staff

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