Bulgaria annual inflation falls to 11.6% in April

Bulgaria’s annual consumer price index (CPI) recorded 11.6 per cent inflation in April 2023, down from 14 per cent a month earlier, the National Statistical Institute (NSI) said on May 16.

It was the fourth 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 April was 0.3 per cent, the lowest in the past year, according to NSI data.

Food prices in April were flat compared to the previous month, while non-food prices were 0.6 per cent up and services prices were 0.2 per cent higher.

Compared to April 2022, food prices were 15.8 per cent higher, while non-food and services prices rose by 8.5 per cent and 10 per cent, respectively.

The harmonised CPI figure, calculated by NSI for comparison with European Union data, rose by 0.5 per cent on a monthly basis in April, while the annual harmonised CPI inflation was 10.3 per cent, down from 12.1 per cent a month earlier.

Food and beverage prices were 16.8 per cent higher in April, on an annual basis, while the price of utilities and housing increased by 12.2 per cent and transportation costs were 0.7 cent lower compared to April 2022. The three categories account for 48.9 per cent of the harmonised CPI basket.

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

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