Inflation in Bulgaria continues to be among the highest in the Eurozone. For August, the National Statistical Institute (NSI) reported flash estimates of a 5.1% annual inflation rate, while Eurostat today released comparative data for the remaining Eurozone countries.
These figures reveal that Bulgaria ranks third for high inflation, trailing only Cyprus at 5.2% and Lithuania at 5.8%.
Across the Eurozone as a whole, inflation in August is set to reach 3.3%, an increase from 2.9% in July, according to preliminary estimates from Eurostat.
Price growth in the Eurozone was lowest in Estonia and Malta, where annual inflation in August stood at 1.3% and 1.9%, respectively. In major economies such as France and Germany, inflation was recorded at 2.7% and 2.9%, respectively.
Energy prices are driving Eurozone inflation the most, Eurostat notes—electricity, gas, and fuels rose by 14.3%, compared to 10.3% in July. These are followed by services (3.0% compared to 3.3% in July), non-energy industrial goods (1.2% compared to 0.9% in July), and food, alcohol, and tobacco products (1.2%, unchanged from July).
In Bulgaria, according to NSI data, the most significant price increase in August is expected in transport—up 6.3% compared to the previous month. Prices for restaurants and hotels, as well as alcoholic beverages and tobacco products, are expected to rise by 0.8%.
Amid the general price hikes in August, the NSI reports an expected drop in prices for food products and non-alcoholic beverages, with a forecasted decline of 0.3%, and healthcare down by 0.5%.
Clothing and footwear are expected to become cheaper by an average of 2% compared to July.
At the same time, prices of goods in the small consumer basket show a decrease of 0.2% compared to July. On an annual basis, however, a growth of 1.6% was recorded.
The NSI data is preliminary. Final inflation figures for August are scheduled to be published by the National Statistical Institute.