site.btaInflation in Bulgaria Drops Further in October 2023, Y/Y

In October 2023, monthly inflation was 0.4% and annual inflation compared to October 2022 was 5.8%, the National Statistical Institute said on Wednesday. Inflation in Bulgaria continues to decline on an annual basis and is now in single digits for the fifth month.

Inflation in the period December 2022 - October 2023 was 4.1%, and the annual average inflation rate for November 2022-October 2023 compared to November 2021-October 2022 was 11.4%.

Following the reported peak in inflation in September 2022, when it reached 18.7% year-on-year, annual inflation in June 2023 became single-digit for the first time since January 2022, when it was 9.1%. 

In October 2023, prices of goods and services increased in the following consumer groups: entertainment and culture (by 6.7%); clothing and footwear (5.7%); education (1.1%); housing, household goods and services and ordinary maintenance of the home (0.8%); alcoholic beverages and tobacco products (0.4%); health care (0.3%).

Prices of goods and services were lower in the following consumer groups: housing, water, electricity, gas and other fuels (by 0.4%); food and non-alcoholic beverages (0.4%); transport (0.3%).