Sat, Feb 11 2012

Bulgarian inflation down to 6% year-on-year in February

Thu, Mar 12 2009 13:18 CET

byAlex Bivol

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Bulgarian inflation down to 6% year-on-year in February

Photo: sxc.hu

Year-on-year inflation in Bulgaria fell to six per cent in February, the lowest it has been in 20 months, National Statistical Institute (NSI) data showed on March 12.

The consumer price index (CPI) rose by 0.1 per cent in February, down from the 0.7 per cent increase the previous month. Non-food and service prices rose by 0.5 per cent and 0.3 per cent, respectively, but were offset by a 0.7 per cent drop in food prices.

Harmonised CPI, the figure calculated by the statistics board for comparison with inflation in the European Union, recorded a slightly larger increase of 0.4 per cent, while the year-on-year figure fell to 5.4 per cent.

Bulgaria's Cabinet targets an annual inflation of 5.8 per cent on the expectations of reduced consumption as the global financial crisis will become increasingly felt in the country.

In 2008, inflation was 7.8 per cent, below the eight per cent estimates announced by the Finance Ministry and Bulgarian National Bank in the summer, and well short of the 12.5 per cent figure recorded in 2007.

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Anonymous david lloyd-jones Thu, Mar 12 2009 17:41 CET
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its a shame that the finance ministry dont go out of their office to see the real inflation prices, which most of us know, my week on week budget for the last two years has increased by 27% buying the same things


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