Bulgaria’s PPI down 1.8% y/y, remains flat m/m in July 2013

By bne IntelliNews August 30, 2013

Bulgaria's domestic market producer price index decreased 1.8% y/y in July 2013 on the back of falling energy and mining and quarrying prices, statistics office data showed. In monthly terms, July's producer price index stayed unchanged from its level in June. The data suggest that consumer inflation will continue to decelerate in the near term. Bulgaria's consumer price inflation fell to 0.5% y/y in July from 2.6% the month before.

Utilities producer prices dropped 4.4% y/y and 0.1% m/m in July. Mining and quarrying prices were 12.1% lower compared to July 2012. Compared to the previous month they inched down by 0.2% on the back of lower metal ore prices, which dropped 2.1% m/m. Meanwhile, manufacturing prices remained unchanged from a year earlier but marked a tiny increase of 0.1% compared to June 2013.

The broader PPI index, including export sales, dropped by 1.8% y/y in July but remained unchanged from June.

In 2012, producer price growth decelerated to 5.3% on average from 8.7% in 2011. The average price growth was the highest in the utilities sector (8.1%).

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