FX.co ★ Bulgarian Inflation Slows To 3.3%, Lowest In 31 Months

Bulgaria has recorded a further decline in its consumer price inflation, hitting a two-and-a-half year low back in February. This decline has primarily been attributed to a decrease in food costs, according to recent data from the National Statistical Institute.

In February, the Consumer Price Index (CPI), a measure that examines the weighted average of prices of a basket of consumer goods and services, like transportation and healthcare, recorded a 3.3% increase on a yearly basis, compared to the 3.8% increase recorded in January. This reading marks the lowest inflation rate since July 2021 when the recorded increase was 3.0%.

When looking at the data, the yearly price increase for food and non-alcoholic drinks witnessed a drop, as it eased to 3.2%, down from 5.0%. Health costs also reported a slower growth rate of 6.2%, compared to the 7.0 % surge witnessed in January. On the other hand, transport costs saw a rebound of 1.1%.

On a monthly comparison, consumer prices increased by 0.3% in February, following a 0.5% rise in January. At the same time, the EU harmonised inflation hit a 30-month low of 3.5%, down from 3.9% in January. Concurrently, the Harmonised Index of Consumer Prices (HICP), which is the measure of inflation used by the European Union, saw a monthly increase of 0.3%.