Inflation in Bulgaria continues to slow down on an annual basis, and for the seventh month it is in the single digits, according to a report in the National Statistical Institute (NSI).

In December 2023, the monthly inflation was 0.3% and the annual inflation in December 2023 compared to December 2022 was 4.7%, the National Statistical Institute announced today. The annual average inflation, in the period January - December 2023 compared to the period January - December 2022, was 9.5%.

In November, monthly inflation was 0.3 per cent and annual inflation was 5.4 per cent. In October 2023, the monthly inflation was 0.4%, and the annual inflation for October 2023 compared to October 2022 - 5.8%.

After the peak of inflation in Bulgaria in September 2022, when it reached 18.7% on an annual basis, the NSI announced in mid-October 2023 annual September values of 6.3%.

The movement of prices of goods and services

Bulgaria's annual inflation rate for July was 8.5%

In December 2023, the prices of goods and services increased in the following consumer groups: entertainment and culture - an increase of 2.4 per cent, restaurants and hotels - an increase of 0.7 per cent; miscellaneous goods and services - an increase of 0.7 per cent; food products and non-alcoholic beverages - an increase of 0.7 per cent; alcoholic beverages and tobacco - an increase of 0.3 per cent; housing, water, electricity, gas and other fuels - an increase of 0.1 per cent; Healthcare - an increase of 0.1 per cent. The prices of goods and services were lower in the following consumer groups: transport - a decrease of 1.5 per cent; clothing and footwear - a decrease of 0.6 per cent; messages - a decrease of 0.3 per cent.

The prices of goods and services in the group "Education" and in the group "Housing furniture, goods and services for the household and for the usual maintenance of the home" remain unchanged.

Inflation dynamics

In August, the monthly inflation was 0.4%, and the annual inflation for August 2023 compared to August 2022 - 7.7%, according to a reference in the NSI.

Monthly inflation for July was 0.9% and annual - 8.5%. In June, the rate of change of consumer prices on a monthly basis in Bulgaria was negative -0.4% and the annual inflation in June 2023 compared to June 2022 was 8.7%.

Annual inflation in June 2023 became single-digit for the first time since January 2022, when it stood at 9.1 percent.

Annual inflation for May 2023 was 10.1%. Inflation in Bulgaria in April was 11.6% compared to April 2022, and in March - 14%, which marked a slowdown compared to February, when its annual growth was 16%. In January 2023, inflation on an annual basis was 16.4%, and in December 2022 - 16.9%. In November 2022, its values were also 16.9 percent. In October 2022, annual inflation was 17.6%.

The peak of inflation in Bulgaria was recorded in September 2022, when it reached 18.7% on an annual basis.

In August 2022, annual inflation compared to August 2021 was 17.7%, in July 2022 - 17.3%, in June 2022 - 16.9%, in May - 15.6%, April 2022 - 14.4%, March 2022 - 12.4%. In February 2022, the NSI reported an annual inflation of 10 per cent, and in January 2022 compared to January 2021 of 9.1 per cent.

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