Bulgaria’s annual consumer price index (CPI) recorded three per cent inflation in November, after monthly figures showed 0.4 per cent inflation, according to data released by the National Statistical Institute (NSI) on December 14.
The annual CPI inflation figure hit its highest since February 2013 (when it was 3.6 per cent), the latest sign yet that Bulgaria’s economy has shrugged off years of deflationary pressure. In monthly terms, it was the fifth month in a row and the eighth time in the past 12 months that consumer prices recorded an increase.
Food prices were 0.6 per cent higher compared to October, while non-food prices rose by 0.5 per cent and services prices were up 0.1 per cent. Compared to November 2016, food prices were 3.7 per cent higher, while non-food and services prices rose by two per cent and 2.1 per cent, respectively.
The harmonised CPI figure, calculated by NSI for comparison with European Union data, recorded 0.3 per cent inflation in November, while the annual harmonised CPI was up 1.9 per cent – the 11th consecutive month it recorded inflation after 41 months in deflationary territory. Like the CPI figure, it was the highest recorded since February 2013 (when it was 2.2 per cent).
Food and beverage prices were 4.2 per cent up, on an annual basis, while the price of utilities and housing increased by 4.3 per cent and transportation costs were 1.1 per cent higher compared to a year earlier. The three categories account for about 48 per cent of the harmonised CPI basket.