Will Bulgaria meet the inflation criterion for the Eurozone?

Eurostat's data on the annual inflation rates for eurozone countries is expected to be released by the end of the week, Bulgaria's Ministry of Finance and the National Statistical Institute told BNT on January 15. Once the inflation rates of the three best-performing countries are added together and 1.5 percentage points are added, it will be clear whether Bulgaria meets the criterion for joining the Eurozone. The condition is that the harmonised index of annual average inflation in Bulgaria, which was reported today as 2.6%, does not exceed this sum.

Inflation rate in Bulgaria for December is 2.2%

Lyudmila Petkova, caretaker Finance Minister: We need to look at the other countries as well, not just our data, but an analysis has to be done. So, at the moment, I cannot give you an exact answer, but more information may be provided later, after the analysis is made. However, you know that we are very close."

The annual inflation for December 2024 compared to December 2023 is 2.2%, according to the National Statistical Institute. Deflation was observed in four of the months during the year.

What were the most significant price increases during the year?

Food products prices increased by 2.8%. Alcohol and tobacco prices rose by 6%, while housing and electricity costs increased by 2.8%. The largest price increases during the year were observed in education and in restaurants and hotels, with increases of 7.1% and 7.5%, respectively. There were also annual price decreases in sectors such as communications, housing furnishings, clothing, footwear, and transportation.