Bulgaria Inflation July 2022

Bulgaria

Bulgaria: Inflation comes in at highest level since May 1998 in July

August 16, 2022

Consumer prices rose 1.12% in July over the previous month, accelerating from June's 0.88% increase. The result was largely due to a less pronounced drop in prices for food and non-alcoholic beverages. In contrast, price pressures for housing, water, electricity, gas and other fuels increased at a stronger pace.

Inflation increased to 17.3% in July from June’s 16.9%. July's figure marked the highest inflation rate since May 1998. Meanwhile, annual average inflation rose to 10.5% in July (June: 9.3%). Lastly, harmonized inflation ticked up to 14.9% in July, from the previous month's 14.8%.

FocusEconomics Consensus Forecast panelists project inflation to average 13.6% in 2022, which is up 0.4 percentage points from last month’s forecast, and 6.1% in 2023.


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Bulgaria Inflation July 2022

Note: Year-on-year and month-on-month variation of consumer price index in %.
Source: National Statistical Institute (NSI).


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