Bulgaria records 16.9 per cent annual inflation in 2022

Bulgaria’s annual consumer price index (CPI) recorded 16.9 per cent inflation in December 2022, data released by the National Statistical Institute (NSI) on January 16 showed.

This was more than double the figure recorded in 2021, when annual inflation was 7.8 per cent, but unchanged from November. Monthly inflation in December was 0.9 per cent, compared to 0.8 per cent recorded in November.

Food prices in December were up one per cent compared to the previous month, while non-food prices fell by 0.3 per cent and services prices were 2.5 per cent higher.

Compared to December 2021, food prices were 25.6 per cent higher, while non-food and services prices rose by 13.3 per cent and 10.3 per cent, respectively.

The harmonised CPI figure, calculated by NSI for comparison with European Union data, rose by 0.8 per cent on a monthly basis in December, while the annual harmonised CPI inflation was 14.3 per cent, also unchanged from a month earlier.

Food and beverage prices were 26 per cent higher, on an annual basis, while the price of utilities and housing increased by 17.8 per cent and transportation costs were 8.9 per cent higher compared to December 2021. The three categories account for about 48.5 per cent of the harmonised CPI basket.

(Consumer price index changes since December 2021. Bars illustrate the annual CPI inflation and lines show the monthly CPI inflation. Graphic: NSI)

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