Bulgaria: Consumer prices fall at a slower pace in March
April 14, 2014
In March, consumer prices fell 0.23% over the previous month, which followed the 0.36% drop recorded in February. According to the National Statistical Institute, the figure was mainly driven by lower prices for food and non-alcoholic beverages as well as for alcoholic beverages and tobacco.
Consumer prices fell 2.3% over the same month last year in March, which followed the 2.6% decline tallied in the previous month-the fastest drop on record. March's figure marks the eight consecutive drop in consumer prices. Annual average inflation fell from minus 0.2% in February to minus 0.6% in March.
Consensus Forecast participants see inflation ending 2014 at 1.5%, which is down 0.4 percentage points from last month's forecast. In 2015, panelists expect inflation to be 2.6%.
Author: Dirina Mançellari, Senior Economist