Bulgaria’s annual consumer price index (CPI) recorded 3.2 per cent inflation in June, up 0.6 percentage points compared to a month earlier, as well as 0.1 per cent inflation on a monthly basis, according to data released by the National Statistical Institute (NSI) on July 16.
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, consumer prices recorded a decrease only once in the previous 12 months, in March.
Food prices were 0.6 per cent lower compared to May and non-food prices were up 0.5 per cent, while services prices rose by 0.2 per cent. Compared to June 2017, food prices were 2.5 per cent higher, while non-food and services prices both rose by 3.5 per cent.
The harmonised CPI figure, calculated by NSI for comparison with European Union data, recorded an increase of 0.5 per cent on a monthly basis, while the annual harmonised CPI in June showed a three per cent increase, a level it last reached in October 2012.
Food and beverage prices were 2.1 per cent higher, on an annual basis, while the price of utilities and housing has increased by 3.3 per cent and transportation costs were 5.9 per cent higher compared to a year earlier. The three categories account for about 49.7 per cent of the harmonised CPI basket.