Inflation in Bulgaria Slowed in October to a Two-Year Low of 5.8%

Annual inflation in Bulgaria slowed down in October to 5.8% from 6.3% a month earlier, according to the data of the National Statistical Institute (NSI). This is the lowest inflation in the country since September 2021.

Since the beginning of the year (October 2023 vs. October 2022), inflation is 4.1 percent.

On a monthly basis, inflation rose by 0.4% compared to September, when deflation was reported at 0.1%.

Monthly inflation in October was mainly due to price increases in the entertainment and culture sector (by 6.7%), clothing and footwear (by 5.7%), education (by 1.1%) and home furnishings, goods and services for the household and for the usual maintenance of the home (by 0.8%).

In the case of food and non-alcoholic products, there is a decrease in prices by 0.4%, in transport - by 0.3 percent, and in the prices of housing, water, electricity, gas and other fuels - a decrease by 0.4%.

Harmonized inflation (HICP index according to common European standards) in October rose by 0.2% on a monthly basis, while harmonized consumer inflation on an annual basis slowed to 5.9% from 6.4% in September.

The Harmonized Index of Consumer Prices is a comparable measure of inflation across EU countries. It is one of the criteria for price stability and for Bulgaria's accession to the Eurozone.

Harmonized inflation (annual basis)

The price index for the small consumer basket increased in October by 0.1% compared to September, having increased by 3.8% since the beginning of the year.

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