Consumer Basket Rises by €1 in a Week

The cost of the consumer basket has increased by €1 over the past week, according to the Coordination Centre responsible for Bulgaria’s transition to the single European currency. For now, the conflict in the Middle East and the recent surge in oil prices have not yet affected consumer prices.

Inspections by the National Revenue Agency at petrol stations are continuing for a second consecutive week.

Officials say the technical process of switching to the euro has now been completed. Around 89% of the lev cash in circulation has already been withdrawn , leaving approximately 3.4 billion leva.

On an annual basis, the consumer basket has increased by 4% and currently stands at €58. Despite the recent rise in fuel prices, these increases have not yet been reflected in the prices of key food products monitored by the Coordination Centre.

Annual inflation currently remains at 3.3%.

Vladimir Ivanov, chair of the Coordination Centre for the Euro Mechanism:
“Compared with last week, the consumer basket has risen by €1, reaching €58 for the week. Compared with the same period last year, the difference remains €4, entirely due to higher prices for fruit and vegetables.

“Over the past week, a number of inspections have also begun at petrol stations in connection with fuel prices. A total of 54 petrol stations have been checked. So far there has been **no direct impact – not a single cent – on the market. The market for goods and services has not yet reacted to the crisis in the Persian Gulf.”

Svilen Kolev, deputy chair of the National Statistical Institute:
“In February, compared with January this year, monthly inflation measured by the consumer price index stood at 0.4%. This is 0.1 percentage points higher than the preliminary flash estimate released last week.”