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Bulgaria Inflation November 2023

Bulgaria: Inflation drops to lowest level since September 2021 in November

Inflation came in at 5.4% in November, down from October’s 5.8%. November’s result represented the weakest inflation rate since September 2021. The result was driven by moderating price pressures for food and non-alcoholic beverages and easing price pressures for transportation.

Accordingly, the trend pointed down, with annual average inflation coming in at 10.5% in November (October: 11.4%). Meanwhile, harmonized inflation fell to 5.5% in November, from the previous month’s 5.9%.

Finally, consumer prices increased 0.33% in November over the previous month, a smaller increase than the 0.41% rise seen in October.

Analysts at the EIU commented on the outlook:

“Disinflation will be supported by monetary tightening, slowing economic growth depressing overall demand and declining global commodity prices, particularly for energy. However, a tight labour market and still-high food and energy prices mean that inflation will remain difficult to address.”

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