In March, consumer prices rose 0.56% over the previous month, which was less than half the 1.23% increase recorded in February. The monthly rise can be attributed to price increases for transport (+1.75% month-on-month) as well as for food and non-alcoholic beverages (+1.28% mom). Annual inflation rose from 5.2% in February to 5.6%, the highest level since February 2009, but undershot market expectations of 6.1%. Annual average inflation rose from 3.1% in February to 3.5% in March. As Bulgaria's currency board limits the use of interest rates to tackle rising food and oil prices, policy makers met with transport and fuel companies on 23 March, in an attempt to reduce costs by lowering mandatory levels of fuel reserves. In addition, Lukoil Neftochim AD, Bulgaria's sole refinery, agreed to freeze prices for a month to ease escalating fuel prices. Meanwhile, at its latest policy meeting on 31 March, the Central Bank raised the base interest rate to 0.19%, up marginally from the previous 0.18%. The government expects inflation to average 3.6% this year.
Inflation rises to two-year high
April 12, 2011
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Bulgaria Economic News
October 12, 2016
In September, consumer prices decreased 0.5% from the previous month, which followed the 0.1% decline recorded in August.
October 7, 2016
In August, industrial production grew 2.6% from the same month last year in working-day adjusted terms, accelerating from July’s 2.3% increase.
September 13, 2016
In August, consumer prices decreased 0.1% over the previous month, which contrasted the sharp 1.0% increase recorded in July.
September 5, 2016
Revised data released on 5 September confirmed that the economy expanded 3.0% over the same period last year in Q2.
August 12, 2016
In the second quarter, the economy expanded 3.0% over the same period last year, according to preliminary data released on 12 August.