Bulgaria Consumer Prices Continues to Slow in June

Analysis

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Bulgaria's annual inflation rate continued to decelerate, reaching 8.7% year-on-year in June, after easing to 10.1% in May, the Sofia-based National Statistical Institute (NSI) said in a statement on Monday.

This was the lowest reading since December 2021. Prices eased for most sub-indices, notably in housing & utilities (9.8% vs 11.8% in May), furnishings & household equipment (8.9% vs 10.5%), restaurants & hotels (11.9% vs 13%), food & non-alcoholic beverages (13.3% vs 14.4%) and recreation & culture (14.5% vs 17.4%).

Additionally, transport costs continued to decline (-13.7% vs -9.5%). In contrast, inflation edged higher for health (12.7% vs 12%) and alcoholic beverages & tobacco (7.1% vs 6.8%). In monthly terms, consumer prices in the country were 0.4% lower in in the sixth month of this year, following a monthly decline of 0.1% in May.

Inflation measured by the harmonized index of consumer prices (HICP) was 7.5% in June compared to t he same month of 2022, and was 0.1% higher than in May. 

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