Bulgaria's CPI falls 0.7% y/y in August 2013 on lower energy prices

By bne IntelliNews September 12, 2013

Bulgaria's consumer prices turned to decline in August for the first time since November 2009 mainly on the back of lower energy prices, according to statistics office data. The CPI fell 0.7% y/y in August, following a 0.5 increase in July.

The price of electricity was 11.1% lower in August than a year earlier. This is a result of the cuts administered by the state energy regulator this year (a 7% average decrease effective since March and a 4.3% cut effective since August). Furthermore, the price of gas fuels fell 4.9% y/y and the price of heat energy - 9.6% y/y.

With the exception of food prices, which rose 1.2% y/y in August, prices of other major goods and services also decreased. Housing and utilities were 5.7% cheaper than a year earlier, while health and transport prices declined by 3.7% y/y and 1.9% y/y, respectively.

On a monthly basis, consumer prices declined for the sixth month in a row. In August, deflation was recorded at 0.6%. Electricity prices fell 4.3% m/m. In addition, the price of food inched down 0.8% m/m and is expected to continue to decline due to the exceptionally good harvest in Bulgaria (and the world) this year.

The statistics office also informed that the EU-harmonised CPI inflation (HICP), used as a benchmark for the euro adoption, slipped 0.7% y/y and 0.2% m/m in August.

Related Articles

Bulgarian prosecutors file indictment against defence minister

The Sofia city prosecutor’s office filed indictment with Sofia city court against outgoing Defence Minister Nikolay Nenchev over his alleged failure to ensure aviation safety and the ... more

Bulgaria’s former justice minister launches anti-corruption party

Bulgaria’s former Justice Minister Hristo Ivanov will lead the newly formed Yes Bulgaria party as it prepares to compete in the upcoming general election on an anti-corruption platform.  ... more

Belgium’s KBC buys United Bulgarian Bank and Interlease for €610mn

Belgian-based KBC Group said on December 30 that it is acquiring United Bulgarian Bank (UBB) and Bulgarian leasing ... more

Register here to continue reading this article and 2 more for free or purchase 12 months full website access including the bne Magazine for just $119/year.

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

Thank you. Please complete your registration by confirming your email address.
A confirmation email has been sent to the email address you provided.

To continue viewing our content you need to complete the registration process.

Please look for an email that was sent to with the subject line "Confirmation bne IntelliNews access". This email will have instructions on how to complete registration process. Please check in your "Junk" folder in case this communication was misdirected in your email system.

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

If you have any questions please contact us at sales@intellinews.com

Subscribe to bne IntelliNews website and magazine

Subscribe to bne IntelliNews website and monthly magazine, the leading source of business, economic and financial news and commentary in emerging markets.

Your subscription includes:
  • Full access to the bne content daily news and features on the website
  • Newsletters direct to your mailbox
  • Print and digital subscription to the monthly bne magazine
  • Digital subscription to the weekly bne newspaper

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

bne IntelliNews
$119 per year

All prices are in US dollars net of applicable taxes.

If you have any questions please contact us at sales@intellinews.com

Register for free to read bne IntelliNews Magazine. You'll receive a free digital subscription.

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

Thank you. Please complete your registration by confirming your email address.
A confirmation email has been sent to the email address you provided.

IntelliNews Pro offers daily news updates delivered to your inbox and in-depth data reports.
Get the emerging markets newswire that financial professionals trust.

"No day starts for my team without IntelliNews Pro" — UBS

Thank-you for requesting an IntelliNews Pro trial. Our team will be in contact with you shortly.

Dismiss