site.btaNSI Reports Third Consecutive Month of Price Decline in Bulgaria

The National Statistical Institute (NSI) reported a 0.2% drop in retail prices for June, marking the third consecutive month of deflation. The year-on-year inflation rate for June stood at 2.5%, NSI said on Monday.

The Communications sector saw the highest price decrease, dropping by 1.5% compared to May. For the same period, Clothing & Footwear declined 1.2%, Transport declined 0.9%, and Food & Non-Alcoholic Beverages declined 0.5%.

The most significant rise in consumer prices was observed in the Hospitality sector, a 2.2% increase, followed by miscellaneous goods and services at 0.4%, entertainment and culture at 0.3%, and healthcare at 0.2%.

Prices for household furnishings, goods, services, education, housing, water, electricity, gas, other fuels, alcoholic beverages, and tobacco products remained stable.

Inflation for the period from December 2023 to June 2024 registered a slight increase of 0.2%. The average annual inflation rate from July 2023 to June 2024, compared to the same period the previous year, stood at 4.6%.

In June, the Harmonized Index of Consumer Prices increased by 0.2% monthly, culminating in an annual inflation rate of 2.8%.

Harmonized inflation from June 2024 to December 2023 is 0.7%. The average annual inflation rate increased by 4.7% from July 2023 to June 2024, compared to the same period the previous year.

In June 2024, the Price Index of a Small Basket showed a monthly decrease of 0.3% but registered a slight increase of 0.1% since the start of the year.