Bulgaria’s inflation hits new peak of 9.1% y/y in January

Bulgaria’s inflation hits new peak of 9.1% y/y in January
By bne IntelliNews February 16, 2022

Bulgaria’s consumer prices increased by 9.1% y/y in January, after rising by 7.8% y/y in December, statistics office reported on February 15.

The inflation started rising more significantly in the past several months, affected by high energy prices. It reached a nine-year high in September, going up by 4.8% y/y, and continued climbing in the following months.

The consumer price index (CPI) moved up 1.5% month on month, the National Statistical Institute (NSI) said in a statement.

Food prices increased by 11.2% y/y in January, after rising by 8.9% y/y in December. Annual consumer price inflation was more significant in transport (up 21.3% y/y), housing (up 13.2% y/y), restaurants and hotels (up 8.9% y/y) and arts and entertainments (up 8.3% y/y).

Compared to the previous month, arts and entertainment costs increased the most, by 3.8%, while clothing prices dropped by 1.8%.

The Harmonised Index of Consumer Prices (HICP) increased 7.7% y/y in January, after rising 6.6% y/y in December. The HICP was up 1.2% m/m in January.

The European Commission has projected that consumer price inflation will reach 2.9% in 2022.

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