Bulgaria: Inflation drops to lowest level since July in October

Inflation dropped to 17.6% in October below September’s 18.7%. October's result represented the lowest inflation rate since July. The reading was driven by moderating price pressures for housing, water, electricity, gas and other fuels and transportation.

Annual average inflation rose to 13.8% in October (September: 12.8%). Meanwhile, harmonized inflation fell to 14.8% in October, from September’s 15.6%.

Finally, consumer prices increased 0.87% in October over the previous month, which was below the 1.23% increase logged in September. October's result marked the softest rise in prices since September 2021.

FocusEconomics panelists project inflation to average 8.5% in 2023, which is unchanged from last month’s forecast, and 3.9% in 2024.