site.btaAnnual Inflation Slows Down to 7.7% in August

In August 2023, inflation was 0.4% compared to a month earlier and 7.7% compared to this time last year, the National Institute of Statistics said. Year-to-date inflation (December 2022 to August 2023) is 3.7% and the annual average inflation for September 2022-August 2023 compared to September 2021-August 2022 is 13.4%.

For a third month in a row, inflation is in single digits and declining. Monthly inflation for July was 0.9% and annual inflation was 8.5%. In June, it was negative, -0.4%, compared to a month earlier, and 8.7% compared to a year earlier.

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

In August 2023, compared to the previous month, the largest price increases were seen in: transport (4.6%), healthcare (0.6%), restaurants and hotels (0.6%) and miscellaneous goods and services (0.4%). Decreases were seen in: clothing and footwear (-2.3%), communications (-0.6%) and housing, water, electricity, gas and other fuels (-0.3%). 

Annual inflation in Bulgaria peaked in September 2022, when it reached 18.7%.