site.btaInflation Dips to 1.2% in September, National Statistical Institute Reports Continued Price Stabilization

The annual inflation rate for September 2024 was 1.2%, down from the inflation peak of 18.7% in September 2022, and the 6.3% rate in September 2023, the National Statistical Institute (NSI) said on Tuesday.

In September 2024, the monthly inflation, measured by the Consumer Price Index, dropped by 1% compared to the previous month, while the annual inflation for September 2024 compared to September 2023 was 1.2%, NSI said. Inflation from the beginning of the year (for the period between December 2023 and September 2024) was 0.1%, and the average annual inflation for the period from October 2023 to September 2024 compared to October 2022 to September 2023 was 3.2%.

In September 2024, compared to the previous month, the most significant price drops were observed in the following categories: Recreation and Culture (-13.7%), Restaurants and Hotels (-2.5%), Transport (-2%), and Furnishings, Household Equipment, and Routine Maintenance of the House (-0.7%).

The largest price increases were observed in Education (+3.3%), Clothing and Footwear (+0.8%), Food and Non-Alcoholic Beverages (+0.6%), and Alcoholic Beverages and Tobacco Products (+0.3%).

After three consecutive months of deflation in Bulgaria, followed by positive figures in July and August, September saw a return to negative monthly inflation. NSI also reported that annual inflation has remained in single digits for sixteen consecutive months, showing a continued downward trend.