Bulgaria: Fourth consecutive fall in consumer prices
December 13, 2013
In November, consumer prices fell 0.20% over the previous month, which contrasted the 0.48% rise observed in October. According to the National Statistical Institute, the reading was driven mainly by lower prices for food, beverages and tobacco as well as for housing, water, electricity, gas and other fuels.
Consumer prices fell 1.5% over the same month last year, down from the 1.4% decrease recorded in the previous month, which had marked the sharpest decline since September. Annual average inflation edged down from 1.8% in October to 1.4% in November.
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