Bulgaria annual CPI records 3.5% inflation in July
Bulgaria’s annual consumer price index (CPI) recorded 3.5 per cent inflation in July, up 0.3 percentage points compared to a month earlier, as well as 0.7 per cent inflation on a monthly basis, according to data released by the National Statistical Institute (NSI) on August 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, consumer prices recorded a decrease only once in the previous 12 months, in March.
Food prices were 0.1 per cent higher compared to June and non-food prices were flat, while services prices rose by 2.2 per cent. Compared to July 2017, food prices were 1.1 per cent higher, while non-food prices rose by 1.4 per cent and services prices were up 2.8 per cent.
The harmonised CPI figure, calculated by NSI for comparison with European Union data, recorded an increase of one per cent on a monthly basis, while the annual harmonised CPI in July showed a 3.6 per cent increase, the highest level recorded in more than seven years (since 4.6 per cent in March 2011).
Food and beverage prices were 2.2 per cent higher, on an annual basis, while the price of utilities and housing has increased by 3.8 per cent and transportation costs were 6.5 per cent higher compared to a year earlier. The three categories account for about 49.7 per cent of the harmonised CPI basket.