Bulgaria’s inflation reaches nine-year peak in September
Bulgaria’s consumer prices reached a nine-year peak, increasing by 4.8% y/y in August, after rising by 3.7% year on year in July. The consumer price index (CPI) moved up 3.5% compared to December and by 0.4% month on month, the National Statistical Institute (NSI) said on October 18.
Food prices increased by 4.4% y/y in September, after rising by 3.6% y/y in August. Annual consumer price inflation was more significant in transport (up 16.1% y/y), housing (up 5.9% y/y), education (up 5.4% y/y) and restaurants and hotels (up 3.8% y/y).
Compared to the previous month, education costs increased the most, by 3.7%, while prices of arts and entertainment dropped the most, by 4.6% m/m.
The Harmonised Index of Consumer Prices (HICP) increased 4% y/y in September, after rising 2.5% y/y in August. The HICP was up 0.2% m/m in September.
The IMF has projected that consumer price inflation will reach 1.6% in 2021 and 2022.
Despite lapse in demand, firms said to retain positive attitude on 12-month outlook for activity, which remained historically elevated. Inflationary pressures continued to retreat.
Industrial prices in Romania increased by 2.4% in September-October.
GDP also up by 0.2% quarter-on-quarter as trade surplus makes up for lower domestic demand.
Russian service providers recorded a modest expansion in business activity during November, according to the latest PMI survey from S&P Global, but the rate of growth slowed somewhat from October.
Largest number of jobs created in construction, IT&C and hospitality sectors.
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