Bulgaria annual inflation reaches 13-year high of 7.3% in November

Bulgaria’s annual consumer price index (CPI) rose by 7.3 per cent in November, up from six per cent inflation recorded a month earlier, data released by the National Statistical Institute (NSI) on December 15 showed. This was the highest year-on-year increase in consumer prices since December 2008, when the figure was 7.8 per cent.

Monthly inflation in November was 1.4 per cent, compared to 1.8 per cent recorded in October.

Food prices in November were 1.4 per cent higher compared to the previous month, while non-food prices rose by 1.6 per cent and services prices increased by one per cent.

Compared to November 2020, food prices were 7.1 per cent higher, while non-food and services prices rose by nine per cent and 5.5 per cent, respectively.

The harmonised CPI figure, calculated by NSI for comparison with European Union data, rose by 1.1 per cent on a monthly basis in November, while the annual harmonised CPI inflation was 6.3 per cent.

This was also the highest year-on-year increase in the harmonised CPI since December 2008, when the figure was 7.2 per cent.

Food and beverage prices were 6.8 per cent higher, on an annual basis, while the price of utilities and housing increased by 9.6 per cent and transportation costs were 18.3 per cent higher compared to November 2020. The three categories account for about 48.8 per cent of the harmonised CPI basket.

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 two per cent of the total CPI and harmonised CPI, the same as a month earlier.

(Illustration: svilen001/sxc.hu)

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