Two-digit Price Jump in Hotels and Airline Tickets in December

Consumer prices in Bulgaria increased by 2.8 per cent on an annual basis in December 2017. The average annual inflation for the previous year compared to the previous one was 2.1%. For comparison, the average annual inflation rate in 2016 was negative (-0.8%). Thus, the indicator returns to positive territory for the first time in three years, according to NSI data.

Of these, it is evident that in the month with the most holiday days the prices of air tickets drastically increased - by over 30% and in hotels in holiday centers and resorts - by 17.2%. Besides celebrations, the rise of oil prices on the world commodity markets is another reason for rising prices. In December, fuel prices rose, with diesel 1.6%, motor gasoline A95H - 1.3%, gasoline A98H - 1.1% and LPG propane-butane 1.7%.

For heating fuels, the growth is 1.1% for gaseous and 1.3% for liquid. Water, sewerage and water purification services have also risen by 1.3%, 4.8% and 0.5%, respectively. Of the consumer groups, the highest growth rates were recorded in the entertainment and culture sector - 3.3%, followed by transport by 1.9% and restaurants and hotels by 1.1%. In December compared to November, food and non-alcoholic beverages fell by 0.2%, alcohol and cigarettes remained unchanged and housing, overhead and fuel costs increased by 0.2% on average. In December, the biggest price drop was recorded in shoes and clothing - 0.6%, due to the holiday discounts.

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