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Bulgaria CPI up by 0.1% in November

Mon, Dec 14 2009 12:28 CET

byAlex Bivol

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Bulgaria CPI up by 0.1% in November

Photo: Valentina Petrova

Bulgaria's consumer price index (CPI) increased by 0.1 per cent in November, National Statistical Institute data showed on December 14. However, year-on-year, consumer prices deflated by 0.1 per cent, compared to 0.3 per cent deflation in the 12 months to end-October.

Food prices were 0.3 per cent higher, while non-food prices rose by 0.2 per cent and services prices fell 0.3 per cent.

The harmonised consumer price index, the figure calculated by the statistics board for comparison with inflation in the European Union, was 0.2 per cent higher, while the year-on-year figure was 0.9 per cent.

Bulgaria's Cabinet targeted 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. For the first 10 months of the year, Bulgaria's consumer price inflation was 0.1 per cent.

The fast drop in inflation would eliminate Bulgaria's main obstacle towards adopting the euro, although it would not guarantee a faster process. Bulgaria's Finance Minister Simeon Dyankov has said that the new Cabinet planned to formally apply for admission into the exchange rate mechanism, the eurozone waiting room, in January 2010.

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

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Comments

Anonymous Peter Tue, Dec 15 2009 00:42 CET
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I hate statistics like this. It reminds me the times of the Communism ,when all statistics data was well cooked before they serve it. Now probably is the same. 10 years ago the consumer Basket in Bulgaria included Rolex watches and piano?! Bulgarians are now and before spending about 60% of their income on food. I do not want to make comparison with the prices of the clothing - for example here in US and in Bulgaria.


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Appointments

Employment Agency

Employment Agency

Kamelia Lozanova has been appointed the executive director of the Employment Agency, a position she has held ad interim since September 2011, following the resignation of her predecessor Rossitsa Stelianova. Prior to that, Lozanova was the agency's deputy executive director in charge of international projects and European programmes. She has been with the agency for more than 20 years. Lozanova has a degree in Slavonic philology from the St Kliment Ohridski University of Sofia.

Uniqa

Uniqa

Gloria Dimitrova has been appointed executive director and member of the managing board at Uniqa Life Insurance Bulgaria. Dimitrova began her career in 1998 at the insurance supervision directorate, but moved to the private sector and worked for professional services and insurance brokerage firm Marsh&McLennan and US insurer AIG, both in Bulgaria and the Middle East. She joined Uniqa as regional director for Sofia in 2010. Dimitrova has a degree in economics from the University for National and World Economy in Sofia and a master's degree in insurance from the Business Academy in Svishtov.

Beiersdorf

Beiersdorf

Bedros Kalfayan, general manager of skin care and cosmetics company Beiersdorf Bulgaria, will oversee the parent's company units in Romania and Moldova starting April 1. Following company restructuring, Beiersdorf's subsidiaries in the three countries were merged and are now one unit, part of Beiersdorf Central and Eastern Europe. Kalfayan joined Beiersdorf in 2007 as sales manager and was promoted to general manager in 2008. Prior to that, he worked for Axxon Bulgaria, Ferrero and Rubella. Kalfayan has a master's degree in industrial management from the Technical University in Sofia.

Kamenitza

Kamenitza

Yassen Lyubenov is the new head of marketing at Bulgarian beer brewer Kamenitza. Lyubenov has 12 years of experience in marketing in the fast-moving consumer goods sector and has started his career as assistant brand manager at Kraft Foods Bulgaria. He later became brand manager at Wrigley Bulgaria, with responsibilities for Bulgaria and Macedonia. Prior to joining Kamenitza, he was senior marketing manager at Wrigley Russia, where he was in charge of brand expansion into Ukraine, Belarus, Central Asia and the Caucasus. Lyubenov has a bachelor's degree in international business administration from the University of Lincoln, UK.

Hewlett-Packard

Hewlett-Packard

Sasha Bezuhanova has been appointed Hewlett-Packard public sector director for emerging markets, where she will oversee HP public sector activities in 63 countries, including Bulgaria. Bezuhanova will also be in charge of HP's relations with the European Union. Bezuhanova has been HP's public sector director for Central and Eastern Europe since 2008; before that she was general manager of HP Bulgaria since 1998. Bezuhanova has a master's degree in electronics from the Technical University in Sofia and has completed a managment programme at INSEAD.

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