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Bulgaria Inflation Surges on Transport Costs
31 Aug
Summary
- Consumer prices in Bulgaria climbed 5.1% year-over-year in August.
- Transportation inflation significantly accelerated to 22.4% from 14.5%.
- Monthly consumer prices rose 0.6% in August, showing a slowdown from July.
Consumer price inflation in Bulgaria accelerated in August, marking the first increase in three months. Preliminary data from the National Statistical Institute indicated a year-over-year rise of 5.1% in the consumer price index (CPI), up from 4.5% in July.
The primary driver for this inflationary pressure was transportation costs, which surged to 22.4% annually, a substantial increase from 14.5% in the prior month. Housing and utility costs maintained a stable growth rate of 5.1%.
Conversely, the annual price increase for food and non-alcoholic beverages slowed to 0.6%, down from 1.2%. Prices for clothing and footwear remained unchanged. On a monthly basis, consumer prices rose by 0.6% in August, a slight deceleration from the 0.8% increase observed in July. The harmonized index of consumer prices (HICP), used for EU comparisons, also saw an accelerated annual pace of 5.1% in August, compared to 4.4% in July.
