Bulgaria: Consumer prices fall annually for eighth consecutive month in September
October 12, 2016
In September, consumer prices decreased 0.5% from the previous month, which followed the 0.1% decline recorded in August. According to the National Statistical Institute, the decline was mainly driven by lower prices for transport, restaurants and hotels as well as for recreation and culture. A rise in prices for housing and utilities was not enough to prevent an overall monthly decrease in September.
On an annual basis, consumer prices fell 0.6% in September, which followed the 0.3% drop observed in August. Consumer prices have been falling uninterruptedly since February 2016. Meanwhile, the annual average variation in consumer prices stabilized at August’s minus 0.8% in September.
Author: Luis Lopez Vivas, Economist