Bulgaria: Inflation drops further to 10 month low
May 14, 2013
In April, consumer prices fell 0.4% over the previous month, which followed the 0.5% drop recorded in March. According to the National Statistical Institute, the reading reflects a drop in prices for housing and energy, as well as for food and non-alcoholic beverages.
On an annual basis, inflation dropped from 2.7% in March to 2.0% in April, marking the lowest rate in 10 months. Nevertheless, annual average inflation inched up to 3.4% from 3.3% in March.
The government expects HICP inflation to average 1.8% this year. Consensus Forecast participants see inflation ending the year at 2.9%, which is down 0.1 percentage points from last month's forecast. In 2014, inflation is expected to end at 3.2%.