Bulgaria: Inflation climbs higher, reaching five-and-a-half year high

Consumer prices rose 0.7% over the previous month in July, after a 0.1% month-on-month increase in June. According to the Statistical Institute, higher prices for recreation and culture led the upturn in prices, followed by restaurants and hotels.

Meanwhile, inflation climbed to 3.5% in July, up from 3.2% in June, which marked the highest reading in five-and-a-half years. Moreover, annual average inflation ticked up from 2.2% in June to 2.3% in July.

Bulgaria Inflation Forecast

FocusEconomics Consensus Forecast panelists expect inflation to end the year at 2.5%, which is unchanged from last month’s estimate. For 2019, panelists expect inflation to end the year at 2.7%.