BGN 2,300 is the average wage for March, national statistics data show

The average gross monthly wage for March is BGN 2,300. Monthly inflation is -0.3% and annual inflation is 2.4%. This is according to the data published by the National Statistical Institute on May 15. In the first quarter of the year, GDP grew by 1.7%.

The average gross monthly wage for January 2024 is BGN 2,155, for February - BGN 2,139, and for March is BGN 2,300. In the first quarter of 2024, the gross domestic product (GDP) grew by 1.7% compared to the first quarter of the previous year and by 0.4% compared to the fourth quarter of 2023, according to seasonally adjusted data by express estimates.

Annual changes

In the first quarter of 2024, GDP increased by 1.7% from the first quarter of the previous year, and gross value added increased by 2.2%.

Final consumption registered a 4.1% increase, gross fixed capital formation increased by 7.7% in Q1 2024 from Q1 of the previous year on a seasonally adjusted basis. Exports of goods and services decreased by 1.0% and imports of goods and services decreased by 3.8%.

Monthly inflation was -0.3% and annual inflation was 2.4%. Inflation is measured by CPI (Consumer Price Index), monthly inflation is for April 2024 compared to the previous month and annual inflation is for April 2024 compared to the same month of the previous year.

In April 2024 compared to the previous month, the largest price decreases were in the Entertainment & Culture (-5.9%), Communications (-2.1%) and Health (-1.2%) groups. "Clothing and footwear" (+6.8%), "Transport" (+1.0%) and "Alcoholic beverages and tobacco" (+0.8%).

Monthly inflation

In April 2024, the prices of goods and services decreased in the following consumer groups:

• ‘Recreation and culture’ - a decrease of 5.9%;
• ‘Communications’ - a decrease of 2.1%;
• ‘Health’ - a decrease of 1.2%;
• ‘Furnishings, household equipment and routine maintenance of the house’ - a decrease of 0.8%;
• ‘Restaurants and hotels’ - a decrease of 0.4%;
• ‘Housing, water, electricity, gas and other fuels’ - a decrease of 0.2%;
• ‘Food and non-alcoholic beverages’ - a decrease of 0.1%.

The prices of goods and services increased in the following consumer groups:

• ‘Clothing and footwear’ - an increase of 6.8%;
• ‘Transport’ - an increase of 1.0%;
• ‘Alcoholic beverages and tobacco’ - an increase of 0.8%.

The prices of goods and services both in ‘Miscellaneous goods and services’ and in ‘Education’ remained unchanged.

The number of employees under labour contract at the end of March 2024 increased by 32.2 thousand, or 1.4%, as compared to the end of December 2023 and reached 2.32 million according to the preliminary data of the National Statistical Institute (NSI). The highest increase was observed in the economic activities: ‘Accommodation and food service activities’ - by 6.1%, ‘Information and communication’ - by 5.3%, and ‘Professional, scientific and technical activities’ - by 3.2%. The highest decrease of the number of employees - by 0.6% was recorded in the economic activities ‘Mining and quarrying’, and ‘Administrative and support service activities’.

At the end of March 2024, as compared to March 2023, the number of employees under labour contract increased by 12.8 thousand, or 0.6%. The highest increase in absolute figures was observed in economic activities ‘Human health and social work activities’ - 12.1 thousand, ‘Accommodation and food service activities’ - 7.2 thousand, and ‘Information and communication’ - 6.0 thousand, and the highest decrease was in ‘Manufacturing’ - 11.4 thousand, and in ‘Administrative and support service activities’ - 4.0 thousand.

In percentages, the highest increase at the end of March 2024 as compared to March 2023 was in economic activity ‘Accommodation and food service activities’ - by 7.7%, ‘Human health and social work activities’ - by 6.7%, and in ‘Information and communication’ - by 4.9%, as the highest decrease was reported in ‘Administrative and support service activities’ - by 3.4%, and in ‘Agriculture, forestry and fishing’ - by 3.3%.

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