site.btaCentral Bank Forecasts Gradual Slowdown of Annual Inflation in Second Half of 2024

Annual inflation in Bulgaria is set to slow down steadily in the second half of the year, the Bulgarian National Bank forecast in its quarterly Economic Review, published on the central bank's website on Thursday.

Expected growth rates of private consumption and unit labour costs in a labour shortage environment will continue to be pro-inflationary factors on final consumer prices, the analysis said.

The publication presents information and analysis on the dynamics of balance of payments flows, monetary and credit aggregates, their relationship with the development of the real economy and their impact on price stability. International developments and trends are also analyzed, as the Bulgarian economy is directly affected by them. In this issue, statistical data and information published until 15 July are used, and the described expectations for the economic development in Bulgaria in the short term (until the fourth quarter of the year) are based on the BNB's macroeconomic forecast prepared as of June 26, the bank explains.