Bulgaria: Consumer prices drop annually for a sixth consecutive month in July
July 13, 2016
In July, consumer prices jumped 1.0% over the previous month, which contrasted the 0.1% drop tallied in June. The print represented the largest monthly increase since September 2012. According to the National Statistical Institute, the increase was mainly driven by higher prices for transport, food and non-alcoholic beverages as well as recreation and hotels. A drop in prices for clothing and footwear was not enough to prevent an overall monthly increase in July.
On an annual basis, consumer prices fell 0.2% in July, which was smaller than the 1.3% drop observed in June. Meanwhile, the annual average variation in consumer prices stabilized at June’s minus 0.8% in July.
Author: Luis Lopez Vivas, Economist