Home > Bulgarian Economy > Bulgaria Jan inflation eases to 7.1 pct y/y

Bulgaria Jan inflation eases to 7.1 pct y/y

Bulgarian consumer price inflation fell to a preliminary 7.1 percent year-on-year in January from 7.8 percent a month earlier, mainly due to a drop in petrol prices, statistics office data showed on Friday.

On a monthly basis, inflation in January rose 0.8 percent after a 0.2 percent decrease in December on the back of a rise in prices of food and services, the data showed.

The government expects consumer price inflation to fall to about 5 percent at the end of this year due to the global financial slowdown that has already slowed consumption.

Food prices in January rose 1.9 percent on a monthly basis mainly because of hikes in the prices of meat and vegetables. Services also rose 1.4 percent.

Non-food prices dropped by 0.9 percent as fuel prices continued to decrease. Various fuels fell 2.8 to 2.9 percent, while diesel and LPG dropped by 7.1 percent and 15.9 percent, respectively, as global oil prices declined.

Bulgaria is a net oil importer.

Under the European Union-harmonised consumer price index, inflation was 6.0 percent on an annual basis in January and 0.5 percent on a monthly basis.

The EU newcomer ended last year with inflation of 7.8 percent, down from 12.5 percent at end-2007 due to a significant drop in fuel prices and bumper grain crops which had eased increases in food prices.

(Reporting by Tsvetelia Ilieva, editing by Mike Peacock) Keywords: BULGARIA INFLATION/

(tsvetelia.ilieva@thomsonreuters.com; +359-2-939-97-31; Reuters Messaging: tsvetelia.ilieva.reuters.com@reuters.net)

 

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