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 capital mulls car ban to tackle air pollution

The Sofia city authorities have announced plans for wide-reaching measures to curb high levels of air pollution in the capital.  Bulgaria has the highest levels of PM10 concentrations in ... more

EC to sue Bulgaria, Romania for failing to adopt copyright legislation

The European Commission said that will refer Bulgaria and Romania, along with Luxembourg and Spain, to the Court of Justice of the EU as they have failed to notify ... more

Bulgaria, Macedonia plan feasibility study for link to reduce dependence on Russian gas

Bulgarian state-owned gas transmission system operator Bulgartransgaz and Macedonian energy company MER Skopje have signed an agreement on the start of a ... more