Bulgaria annual CPI records 3.0% inflation in July

Bulgaria’s annual consumer price index (CPI) rose by three per cent in July, up from 2.7 per cent inflation recorded a month earlier, data released by the National Statistical Institute (NSI) on August 16 showed.

Consumer prices rose by 0.8 per cent on a monthly basis, the highest monthly increase since January 2020, when it was 0.9 per cent. It was also the ninth time monthly inflation was recorded over the previous 12 months, which also saw two months of deflation and one month of zero growth.

Beyond the Covid-19 pandemic’s impact on the inflation indicator, it limited NSI’s ability to collect the data, with the statistics body saying that it had to extrapolate about one per cent of the total consumer price index, compared to two per cent a month earlier.

Food prices in July were 0.3 per cent lower compared to the previous month, while non-food prices rose by 0.5 per cent and services prices were 2.6 per cent higher. Compared to July 2020, food prices were 1.8 per cent higher, while non-food prices rose by 3.4 per cent and services prices rose by 3.6 per cent.

The harmonised CPI figure, calculated by NSI for comparison with European Union data, rose by 0.7 per cent on a monthly basis in July, while the annual harmonised CPI inflation was 2.2 per cent.

Food and beverage prices were 1.8 per cent higher, on an annual basis, while the price of utilities and housing increased by 4.3 per cent and transportation costs were 11.2 per cent higher compared to July 2020. The three categories account for about 48.8 per cent of the harmonised CPI basket.

(Illustration: svilen001/sxc.hu)

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