Bulgaria: Consumer prices make record drop in February
March 13, 2014
In February, consumer prices fell 0.36% over the previous month, which followed the 0.22% drop recorded in January. February's result marked the fastest drop in six months. According to the National Statistical Institute, the figure was mainly driven by lower prices for transport, communication, recreation and culture. Consumer prices fell a record-low 2.6% over the same month last year in February. February's figure marks the seventh consecutive drop in consumer prices and was down from the 2.2% decrease observed in January. Annual average inflation swung from 0.3% in January to minus 0.2% in February. Consensus Forecast participants see inflation ending 2014 at 2.5%, which is unchanged from last month's forecast. In 2015, panelists expect inflation to be 2.9%.
Author: Dirina Mançellari, Senior Economist