Bulgarias annual inflation continues to grow in Aug on food, energy prices.

By bne IntelliNews September 13, 2012
Bulgarias annual consumer price inflation reached 3.9% in August, in line with expectations for upward pressures due to energy and food price hikes, statistics office data showed. Inflation rose from 3.1% y/y in July when the administrative increase in electricity price first pushed the index up. Food and beverages prices rose by an annual 4% in August contrary to the seasonal downward trend in June, July and August. Transport prices also continued to increase (up by 6.6% y/y in Aug from 3.6% y/y in Jul), boosted by fuel prices growth. In monthly terms, consumer prices increased by 0.5% and the main driver were the food and transport sectors. The annual average inflation for the 12-month period ending in August slowed to 2.5% from 2.6% a month earlier. Consumer prices have increased by 2.6% since the beginning of the year. The EU harmonised inflation index (HICP), used as a benchmark for the euro adoption, rose by 3.1% y/y in August, up from 2.4% y/y in July. In monthly terms, the HICP added 0.6%. The government sees end-2012 HICP inflation at 2.6% and the average inflation is forecast at 2.1% this year.

Bulgarias annual inflation continues to grow in Aug on food, energy prices.

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