EU Annual Inflation Slows in March 2024, Bulgaria's Rate at 3.1%

Eurostat's latest report revealed a slowdown in annual inflation across the European Union, with the figure dropping to 2.6% in March 2024 from 2.8% the previous month. Similarly, annual inflation in the euro area dipped to 2.4% from 2.6%. Compared to March 2023, the difference is stark, with annual inflation in the EU standing at 8.3% and 6.9% in the euro area.

Preliminary data from Eurostat for Bulgaria based on the Harmonised Index of Consumer Prices showed an annual inflation rate of 3.1% in March 2024, down from 3.5% in February 2024 and 3.9% in March 2023.

However, Bulgaria's National Statistical Institute reported slightly different numbers, estimating annual inflation at 3.0% in March 2024 compared to the same month in the previous year.

Month-on-month, Bulgaria experienced a 0.2% inflation rate in March 2024. Among EU member states, Bulgaria ranks 12th in terms of annual inflation rate. Eurostat's data indicated that annual inflation decreased in 13 EU countries, remained the same in four, and increased in 10 others.

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