Bulgaria: Consumer prices edge up in October
November 13, 2013
In October, consumer prices rose 0.48% over the previous month, up from the 0.09% increase recorded in September. According to the National Statistical Institute, the reading was driven by higher prices for food, beverages and tobacco as well as for clothing and footwear.
Annual consumer prices fell 1.4%, a slight increase over the 1.6% drop recorded in September, which had marked the largest decrease in nearly 14 years. Annual average inflation fell from 2.3% in September to 1.8% in October.
The government expects HICP inflation to average 1.8% this year. Consensus Forecast participants see inflation ending the year at 2.5%, which is unchanged from last month's forecast. In 2014, inflation is expected to be 2.9%, which is down 0.4 percentage points from last month's estimate.
Author: Dirina Mançellari, Senior Economist