Bulgaria: Inflation drops to nine-month low
April 12, 2013
In March, consumer prices fell 0.5% over the previous month, which contrasts the flat print recorded in February. According to the National Statistical Institute, the reading reflects a sharp drop in prices for housing and energy, as well as for clothing and footwear.
On an annual basis, inflation dropped from 3.6% in February to 2.7% March, marking the lowest rate in nine months. Nevertheless, annual average inflation remained unchanged at 3.3%.
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%.