Bulgaria's CPI inflation cools to 0.5% y/y in July

By bne IntelliNews August 13, 2013

Bulgaria's consumer price inflation fell to 0.5% y/y in July from 2.6% the month before mainly due to slower growth of food prices (36.4% share in the CPI basket), statistics office data showed. The price of food increased by 3% y/y in July, down from a 5.2% growth posted in June. Prices of other major goods and services also decreased - housing and utilities cost 3.4% less than a year earlier, health prices went down by 3.7% y/y and the price of transport fell by 0.5% y/y.

The monthly consumer price index was in negative territory for the fifth month in a row. July's deflation was recorded at 0.5% m/m as food prices declined by 1.5%. Consumer paid 0.7% m/m less for health but some 0.2% m/m more for transport in July. Prices of housing and utilities stayed flat on the month.

In July, the EU-harmonised CPI inflation (HICP), used as a benchmark for the euro adoption, remained unchanged from a year earlier but ticked down 0.1% on a monthly basis.

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