Bulgarias consumer inflation slows down to 2.3% y/y in January 2012.

By bne IntelliNews February 16, 2012
Bulgarias consumer price inflation decelerated further to 2.3% y/y in January 2012 from 2.8% y/y in December 2011, according to preliminary data of the statistics office. In monthly terms, consumer prices rose by 0.2% in January. The prices of food, healthcare services, transport, education, and hotels and restaurants pushed up the overall index during the month. The annual average inflation for the 12-month period ending in January 2012 reached 4% y/y, down from average of 4.2% in 2011. The EU harmonised inflation index (HICP), used as a benchmark for the euro adoption, also slowed down to 1.9% y/y from 2% y/y in December. In monthly terms, HICP rose by 0.3%. The government expects HCPI inflation to slow down to 2.8% at the end of 2012 and to an average of 3.2% in 2012. IntelliNews comment: Still weak consumption figures will continue to press down prices in the following months while administrative upward corrections of energy prices will have the opposite impact.

Bulgarias consumer inflation slows down to 2.3% y/y in January 2012.

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