Bulgaria: Consumer prices take record plunge in January
February 14, 2014
In January, consumer prices fell 0.18% over the previous month, which contrasted the 0.28% rise recorded in December. According to the National Statistical Institute, the figure was mainly driven by lower prices for clothing and footwear as well as for housing, water, electricity, gas and other fuels.
Consumer prices fell a record-low 2.2% over the same month of the previous year in January. The figure was down from the 1.6% decrease observed in December. Annual average inflation inched down from 0.9% in December to 0.3% in January.
Consensus Forecast participants see inflation ending 2014 at 2.5%, which is unchanged from last month's forecast. In 2015, panelists expect inflation to be 2.9%.
Author: Dirina Mançellari, Senior Economist