National Statistical Institute:Inflation in Bulgaria continues to slow

The National Statistical Institute (NSI) reports annual inflation rate for February at 3.3%. Monthly inflation for the past month was 0.3%, according to the Consumer Price Index.

Figure 1. Inflation, measured by CPI, by month

The inflation rate since the beginning of the year (February 2024 compared to December 2023) was 0.8%, and the annual average inflation rate for the period March 2023 - February 2024 compared to the period March 2022 - February 2023 was 7.4%.

In February 2024, the prices of goods and services increased in the following consumer groups:

· Transport - an increase of 1.5%;

· Restaurants and hotels - an increase of 0.9%;

· Alcoholic beverages and tobacco - an increase of 0.8%;

· Food and non-alcoholic beverages - an increase of 0.6%;

· Education - an increase of 0.4%;

· Communications - an increase of 0.3%;

· Miscellaneous goods and services - an increase of 0.3%;

· Health - an increase of 0.1%;

· Recreation and culture - an increase of 0.1%. The prices of goods and services decreased in the following consumer groups:

· Clothing and footwear - a decrease of 2.5%;

· Furnishings, household equipment and routine maintenance of the house - a decrease of 0.6%;

· Housing, water, electricity, gas and other fuels - a decrease of 0.1%.

In February 2024, the monthly inflation rate, measured by Harmonized Index of Consumer Prices, was 0.3% and the annual inflation rate in February 2024 compared to February 2023 was 3.5%

The inflation rate since the beginning of the year (February 2024 compared to December 2023) was 0.4%, and the annual average inflation rate for the period March 2023 - February 2024 compared to the period March 2022 - February 2023 was 6.9%.

Figure 2. Inflation, measured by HICP, by month