Bulgaria annual inflation drops to 6.3% in September

Bulgaria’s annual consumer price index (CPI) recorded 6.3 per cent inflation in September 2023, down from 7.7 per cent a month earlier, the National Statistical Institute (NSI) said on October 16.

It was the ninth consecutive month in which the year-on-year inflation figure recorded a decline, and the third time in five months that the monthly CPI recorded deflation, at 0.1 per cent.

Food prices in September were 0.5 per cent higher compared to the previous month, while non-food prices rose by 0.9 per cent and services prices dropped by 2.4 per cent.

Compared to September 2022, food prices were 10.4 per cent higher, while non-food and services prices rose by 4.4 per cent and 2.8 per cent, respectively.

The harmonised CPI figure, calculated by NSI for comparison with European Union data, recorded 0.3 per cent deflation in September, and the annual harmonised CPI inflation was 6.4 per cent, down from 7.5 per cent a month earlier.

Food and beverage prices were 10.8 per cent higher in September, on an annual basis, while the price of utilities and housing fell by 3.7 per cent and transportation costs were 1.7 cent higher compared to September 2022. The three categories account for 48.9 per cent of the harmonised CPI basket.

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

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