Bulgaria: Inflation picks up in June
July 12, 2013
In June, consumer prices fell 0.4% over the previous month, which followed the 0.1% drop recorded in May. According to the National Statistical Institute, the reading reflects a drop in prices for food and non-alcoholic beverages as well as for transportation.
On an annual basis, inflation rose to 2.6% in June, which is above the 2.0% recorded in May. As a result of the monthly rise, annual average inflation inched up to 3.5% in June from the 3.4% recorded in the previous month.
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%.