Bulgaria posted the highest level of inflation in Southeastern Europe amongst EU members after annual inflation hit 13.4% in May, according to Eurostat’s provisional data.
Inflation is soaring around the world, leading to fears of stagflation, largely driven by ballooning food prices and made worse by supply chain disruption related to the pandemic and more recently by the war in Ukraine.
Inflation in Southeastern Europe is high and Bulgaria’s result is the fifth highest in the 27-member EU.
On a month-on-month basis, Slovenia posted an even higher result with prices increasing 2.0% in May, Eurostat said, followed by Bulgaria’s 1.3%.
The lowest rate of inflation in the region was recorded by Slovenia with an annualised rate of 8.7%, just 0.1 percentage point below the EU average.
Currently France and Malta both have the lowest rate of inflation in the EU at 5.8%, followed by Finland with 7.1%. The Baltics have the highest annual rates of inflation, led by Estonia with 20.1%, Lithuania with 18.5% and Latvia with 16.8%.
SEE inflation in May |
||
|
May annual rate |
May monthly rate |
Bulgaria |
13.4 |
1.3 |
Croatia |
10.7 |
1.2 |
Greece |
10.5 |
0.9 |
Romania |
12.4 |
1.2 |
Slovenia |
8.7 |
2.0 |
EU average |
8.8 |
1.0 |
source: Eurostat |