site.btaBulgarians' Inflation Expectations for Next 12 Months Stronger in October Than in July

The National Statistical Institute (NSI) found in an October survey that consumers believe consumer prices increased in the last 12 months and that their inflation expectations for the next 12 months are stronger (with an increase in the balance indicator by 3.8 percentage points from 9.4 to 13.2). The consumers' inflation expectations for the next 12 months were lower in July.

In October 2023, the total consumer confidence indicator increased by 3.3 percentage points in comparison with July (from -25.5% to -22.2%). The increase was 0.5 percentage points for the urban population and 9.8 percentage points for the rural population, the NSI consumer survey found.

As regards unemployment in the next 12 months, pessimism increased. The opinions of both the urban and the rural population shifted towards more negative expectations in October.

The consumers' opinions about changes in the financial situation of their households over the last 12 months and their expectations for the next 12 months were positive compared to the previous survey.

Consumers saw certain positive changes in the general economic situation in the country in the last 12 months. As a result, the balance indicator increased by 6.9 percentage points (from -59.5 to -52.6). The expectations of the rural population are that this trend will continue over the next 12 months, as opposed to the urban population whose expectations are slightly more negative than they were three months earlier.