Bulgaria’s consumer prices tick up 0.1% y/y in March after 19 months of deflation

By bne IntelliNews April 15, 2015

Bulgaria’s consumer prices edged up 0.1% y/y in March, reversing a 0.5% y/y decline in February and posting their first annual growth in 20 months, statistics office data showed. Compared to the previous month, prices went up 0.4% in March, after rising 0.2% in February.

The return to annual inflation was supported by developments in seven groups out of a total of 12 comprising the index. After being flat y/y in February, prices in the groups food and non-alcoholic beverages, as well as clothing and footwear increased y/y in March, in both cases by 0.5%. Annual deflation softened in the groups of furnishings (to 0.9% in March from 1.4% in February), transport (to 8.4% from 12.4%) and miscellaneous goods and service (to 0.5% from 0.9%). In addition, y/y inflation accelerated in the groups housing (to 5.6% from 5.5%) and recreation and culture (to 3.3% from 3.2%).

Notably, last month prices of “fuels and lubricants for personal transport equipment” registered both the deepest y/y decrease (down 13.9%) and the highest m/m increase (up 8.5%).

The EU-harmonised index of consumer prices declined 1.1% y/y in March after dropping 1.7% y/y in February. On a monthly basis, the harmonised index of consumer prices (HICP) increased by 0.3% in March.

CPI, % y/y      
  Jan'15 Feb'15 Mar'15
Total CPI -1.0 -0.5 0.1
Food and non-alcoholic beverages -1.0 0.0 0.5
Alcoholic beverages and tobacco 0.8 0.7 0.7
Clothing and footwear -0.5 0.0 0.5
Housing, water, electricity, gas and other fuels 5.4 5.5 5.6
Furnishings, household equipment and routine household maintenance -1.1 -1.4 -0.9
Health -1.8 -1.5 -1.6
Transport -14.2 -12.4 -8.4
Communication -6.7 -6.5 -6.6
Recreation and culture 3.1 3.2 3.3
Education 2.6 2.7 2.5
Restaurants and hotels 0.7 0.7 0.6
Miscellaneous goods and service -0.9 -0.9 -0.5
Source: Statistics office      

Related Articles

Bulgarian government gives up plan to join CEZ asset sale deal

Bulgaria’s government does not intend to participate in the deal to sell assets of Czech energy company CEZ, Finance Minister ... more

Bulgarian opposition demands resignations after travellers stroll through abandoned passport control at Sofia airport

Bulgaria’s main opposition Socialist Party (BSP) is demanding the dismissal of Interior Minister ... more

Bulgaria creates “golden hole” for corruption as it scraps procurement rules for Turkish border fence repairs

Bulgaria's parliament approved on March 22 highly controversial amendments to the Public Procurement Act that will allow contracts to repair the fence along its border with Turkey to be ... more