Bulgaria annual inflation drops to two-year low of 5.8% in October

Bulgaria’s annual consumer price index (CPI) recorded 5.8 per cent inflation in October 2023, down from 6.3 per cent a month earlier, the National Statistical Institute (NSI) said on November 15.

It was the tenth consecutive month in which the year-on-year inflation figure recorded a decline and the lowest in two years since annual inflation hit six per cent in October 2021.

Monthly inflation in October was 0.4 per cent, NSI said.

Food prices were 0.3 per cent lower compared to the previous month, while non-food prices rose by 0.6 per cent and services prices were 1.1 per cent higher.

Compared to October 2022, food prices were 7.7 per cent higher, while non-food and services prices rose by 3.6 per cent and 5.6 per cent, respectively.

The harmonised CPI figure, calculated by NSI for comparison with European Union data, recorded 0.2 per cent monthly inflation, and the annual harmonised CPI inflation was 5.9 per cent, down from 6.4 per cent a month earlier.

Food and beverage prices were 7.9 per cent higher in October, on an annual basis, while the price of utilities and housing fell by 1.1 per cent and transportation costs were 2.3 cent higher compared to the same month of last year. The three categories account for 48.9 per cent of the harmonised CPI basket.

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

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