Bulgaria Inflation July 2020

Bulgaria

Bulgaria: Inflation falls to lowest level since December 2016 in July

August 17, 2020

Consumer prices rose 0.47% over the previous month in July, after the 0.39% drop logged in June. July's uptick was the sharpest increase in prices since January. July’s reading largely reflected higher prices for housing, water, electricity, gas and other fuels. Moreover, prices for transport and recreation and culture also increased.

Inflation dropped to 1.2% in July, down from June’s 1.6%. July's figure marked the weakest inflation rate since December 2016. In addition, the trend pointed down mildly, with annual average inflation coming in at 2.6% in July (June: 2.7%). Lastly, harmonized inflation fell to 0.4% from June’s 0.9%.

FocusEconomics Consensus Forecast panelists project inflation to average 1.6% in 2020, which is down 0.5 percentage points from last month’s forecast. For 2021, panelists project inflation to average 1.7%.


Author:, Economist

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Bulgaria Inflation July 20 20

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


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