Bulgaria’s annual consumer price index (CPI) recorded 16.4 per cent inflation in January 2023, down from 16.9 per cent a month earlier, data released by the National Statistical Institute (NSI) on February 15 showed.
It was the third drop in annual inflation recorded in four months, but the decrease has been slow since year-on-year CPI inflation peaked at a 24-year high of 18.7 per cent in November. Monthly inflation in January was 1.1 per cent, the highest in the last four months, according to NSI data.
Food prices in January were up 1.5 per cent compared to the previous month, while non-food prices rose by 1.1 per cent and services prices were 0.6 per cent higher.
Compared to January 2022, food prices were 24.5 per cent higher, while non-food and services prices rose by 13.9 per cent and 9.2 per cent, respectively.
The harmonised CPI figure, calculated by NSI for comparison with European Union data, rose by one per cent on a monthly basis in January, while the annual harmonised CPI inflation was 14.1 per cent, down from 14.3 per cent a month earlier.
Food and beverage prices were 25.1 per cent higher, on an annual basis, while the price of utilities and housing increased by 16.6 per cent and transportation costs were 10 per cent higher compared to January 2022. The three categories account for 50.05 per cent of the harmonised CPI basket.
(Consumer price index changes since January 2022. Bars illustrate the annual CPI inflation and lines show the monthly CPI inflation. Graphic: NSI)
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