Bulgaria annual inflation falls to 14% in March

Bulgaria’s annual consumer price index (CPI) recorded 14 per cent inflation in March 2023, down from 16 per cent a month earlier, the National Statistical Institute (NSI) said on April 18.

It was the third consecutive monthly drop in annual inflation recorded, 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 March was 0.5 per cent, the lowest in the past year, according to NSI data.

Food prices in March were up 0.9 per cent compared to the previous month, while non-food prices were unchanged and services prices were 1.4 per cent higher.

Compared to March 2022, food prices were 20.8 per cent higher, while non-food and services prices rose by 10.2 per cent and 10.1 per cent, respectively.

The harmonised CPI figure, calculated by NSI for comparison with European Union data, rose by 0.6 per cent on a monthly basis in March, while the annual harmonised CPI inflation was 12.1 per cent, down from 13.7 per cent a month earlier.

Food and beverage prices were 21.5 per cent higher in March, on an annual basis, while the price of utilities and housing increased by 14.3 per cent and transportation costs were 1.2 per cent higher compared to March 2022. The three categories account for 48.9 per cent of the harmonised CPI basket.

(Consumer price index changes since March 2022. Bars illustrate the annual CPI inflation and lines show the monthly CPI inflation. Graphic: NSI)

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