Bulgaria records 3.8 per cent annual inflation in January

Bulgaria’s annual consumer price index (CPI) recorded 3.8 per cent inflation in January, down from 4.7 per cent a month earlier, the National Statistical Institute (NSI) said on February 15.

It was the 13th consecutive month in which the year-on-year inflation figure recorded a decline and the lowest since annual inflation hit 3.7 per cent in August 2021. Monthly inflation in January was 0.5 per cent, NSI said.

Food prices were 0.9 per cent higher compared to the previous month, while non-food prices fell 0.6 per cent and services prices were 1.4 per cent higher.

Compared to January 2023, food prices were five per cent higher, while non-food and services prices rose by 1.3 per cent and 4.9 per cent, respectively.

The harmonised CPI figure, calculated by NSI for comparison with European Union data, recorded 0.2 per cent monthly inflation, and the annual harmonised CPI inflation was four per cent, down from five per cent a month earlier.

Food and beverage prices were 5.1 per cent higher in January, on an annual basis, while the price of utilities and housing rose by 2.2 per cent and transportation costs were unchanged compared to the same month of last year. The three categories account for 49 per cent of the harmonised CPI basket.