Bulgaria annual inflation drops to 7.7% in August

Bulgaria’s annual consumer price index (CPI) recorded 7.7 per cent inflation in August 2023, down from 8.5 per cent a month earlier, the National Statistical Institute (NSI) said on September 15.

It was the eighth consecutive month in which the year-on-year inflation figure recorded a decline, but the monthly CPI showed an increase of 0.4 per cent.

Food prices in August were 0.2 per cent higher compared to the previous month, while non-food prices rose by 0.9 per cent and services prices dropped by 0.1 per cent.

Compared to August 2022, food prices were 12.3 per cent higher, while non-food and services prices rose by 4.7 per cent and 5.1 per cent, respectively.

The harmonised CPI figure, calculated by NSI for comparison with European Union data, recorded 0.5 per cent inflation in August, and the annual harmonised CPI inflation was 7.5 per cent, down from 7.8 per cent a month earlier.

Food and beverage prices were 12.5 per cent higher in August, on an annual basis, while the price of utilities and housing increased by 0.1 per cent and transportation costs were 2.5 cent lower compared to August 2022. The three categories account for 48.9 per cent of the harmonised CPI basket.

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

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