Bulgaria’s annual PPI deflation deepens to 0.6% in April

By bne IntelliNews May 29, 2015

Bulgaria’s domestic industrial producer prices fell 0.6% y/y in April, following a 0.4% y/y decline in March, statistics office data showed. On a monthly basis, the PPI went down 0.4% in April, after rising 0.6% in March.

Producer prices in manufacturing dropped 3.5% y/y in April, deepening from a 3.1% y/y contraction a month earlier. Within manufacturing, the highest y/y price increase took place in basic metals (+8.1%), whereas the deepest decline was recorded in food products (-1.1%).

Notably, the deepest drop across the reported components of manufacturing is smaller than the overall decline for this section. A plausible explanation could be that the statistics office is not publishing separate price data for products of Bulgaria’s sole oil refinery due to confidentiality.

Producer prices in utilities increased 3.7% y/y in April, decelerating from a 4% y/y rise in March.

On the other hand, prices in mining went up 6.6% y/y in April, speeding up from a 1.4% y/y growth a month earlier. Prices rose y/y for all mining subsectors, including coal and lignite (+3.7%), metal ores (+13%) and other mining and quarrying (+0.5%).

The broader PPI, including sales abroad, edged down 0.1% y/y in April, reversing a 0.5% y/y increase in March.

Domestic market PPI, % y/y        
  Jan-15 Feb-15 Mar-15 Apr-15
TOTAL -1.9 -1.2 -0.4 -0.6
Mining and quarrying -3.0 -3.1 1.4 6.6
Manufacturing -5.3 -4.2 -3.1 -3.5
Utilities 4.1 4.2 4.0 3.7
Source: NSI        
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