Bulgaria Inflation Up to 1,3% y/y in March
Finance | April 14, 2010, Wednesday // 13:40| viewsBulgaria inflation in March has been increased by rises in the prices of fuel and tobacco. Photo by BGNES
The consumer price index (CPI) in Bulgaria went up to 1,3% year-on-year in March after marking a 0,9% increase the previous month, statistics office data showed on Wednesday.
On a monthly basis, the CPI edged up by 0,2%.
Food prices in January slightly decreased by 0,1% on a monthly basis. Non-food prices increased 5.9% on an annual basis in March and were up by 1.0 % on the month.
Prices of diesel and petrol went up by 5.5% and 6.0 % respectively on the month, while cigarette prices rose 2.3%, according to the data.
Prices of services edged down 0.2 % month-on-month.
Meanwhile, the harmonized index of consumer prices rose 2,4% on a yearly basis in March and was up 0.4% on a monthly basis.
Double-digit inflation and a growing current account deficit had prevented Bulgaria from joining the ERM II, so-called waiting room to the eurozone, since it joined the European Union in 2007.
The center-right government dropped its plans for applying for ERM II after raising the alarm that the 2009 budget gap was 3.7% of gross domestic product rather than the 1.9 % due unaccounted procurement deals.
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