Bulgaria Registers 2.3% Inflation Y/Y in Jan 2012

In January 2012, Bulgaria registered a monthly inflation of 0.2%, according to the National Statistics. File photo

According to the preliminary data, the consumer price index, CPI, in Bulgaria, in January 2012 compared to December 2011 was 100.2%, i.e. the monthly inflation was 0.2%.

The data was reported Wednesday by the Bulgarian National Statistical Institute (NSI).

The annual inflation in January 2012, compared to January 2011 was 2.3%.

The annual average inflation, measured by CPI, in the last 12 months (February 2011 - January 2012), compared to the previous 12 months (February 2010 - January 2011) was 4.0%.

In January 2012, compared to the previous month the prices of goods and services in the main consumer groups have been changed as follows: food and non-alcoholic beverages - an increase of 0.3%; alcoholic beverages and tobacco - the prices have remained at the level of the previous month; clothing and footwear - a decrease of 1.9%; housing (rentals, maintenance and repair), water, electricity, gas and other fuels - the prices have remained at the level of the previous month; furnishings, household equipment and routine maintenance of the house - a decrease of 0.1%; health - an increase of 0.2%; transport - an increase of 2.7%; communications - a decrease of 0.1%; recreation and culture - a decrease of 1.1%; education - an increase of 2.0%; restaurants and hotels - an increase of 0.2%; miscellaneous goods and service - an increase of 0.1%.

According to the preliminary data of the NSI, the harmonized index of consumer prices (HICP) in January 2012, compared to December 2011 was 100.3%, i.e. the monthly inflation was 0.3%.

The annual inflation in January 2012 compared to January 2011 was 1.9%.

The annual average inflation, measured by HICP, in the last 12 months (February 2011 - January 2012), compared to the previous 12 months (February 2010 - January 2011) was 3.2%.

In terms of HICP in January 2012 compared to the previous month the prices of goods and services in the main consumer groups have been changed as follows: food and non-alcoholic beverages - an increase of 0.2%; alcoholic beverages and tobacco - an increase of 0.1%; clothing and footwear - a decrease of 1.6%; housing (rentals, maintenance and repair), water, electricity, gas and other fuels - the prices have remained at the level of the previous month; furnishings, household equipment and routine maintenance of the house - a decrease of 0.1%; health - an increase of 0.3%; transport - an increase of 1.5%; communications - a decrease of 0.1%; recreation and culture - a decrease of 1.1%; education - an increase of 1.9%; restaurants and hotels - an increase of 0.8%; miscellaneous goods and service - an increase of 0.1%.

According to the preliminary data of the NSI, the price index of a small basket (PISB) in January 2012 compared to December 2011 was 100.1%.

In January compared to the previous month the prices of goods and services in the small basket for the 20% households with the lowest income, have been changed as follows: food products - an increase of 0.3%; non-food products - a decrease of 0.2%; services - an increase of 0.1%.

The harmonized index of consumer prices (HICP) is the comparable measure of inflation across EU Member states. It is one of the criterions of price stability and for readiness of Bulgaria to join the Euro Zone.

HICP, as well as CPI, measures the total relative price change of goods and services. Both indices are calculated using the same basket of goods and services, but differ with respect to the used weights. HICP is calculated through the use of weights, which reflect the individual and the collective consumption of all households (incl. institutional and foreign households) on the economic territory of the country. The main source of information for HICP weights is the national accounts data.

The price index of a small basket (PISB) is a measurement of the relative average price changes of 100 socially useful and vital for the living goods and services. The weights of this index reflect he expenditures of the 20% lowest income households. The source of weights information is the Households Budget Survey in the country.

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