Bulgaria: Inflation Decline and GDP Growth

Finance | May 16, 2023, Tuesday // 12:28|  views


Annual inflation in Bulgaria for April 2023 compared to April 2022 is 11.6%, reports the NSI.

The quarterly total income on average per household person in the first quarter of 2023 was BGN 2,394 and increased by 19.3% compared to the same quarter of 2022.

In the structure of total income, the highest relative share is income from salary (53.6%), followed by income from pensions (35.8%) and from self-employment (4.3%).

The quarterly total expenditure on average per person from a household in the first quarter of 2023 was BGN 2,149 and increased by 18.0% compared to the same quarter of 2022.

In the first quarter of 2023, GDP increased by 2.0% compared to the first quarter of the previous year, and gross value added increased by 2.2%.

End consumption registered a growth of 2.8%, gross fixed capital formation increased by 5.2% in the first quarter of 2023 compared to the first quarter of the previous year according to seasonally adjusted data. Exports of goods and services increased by 3.0% and imports of goods and services decreased by 4.3%.

In the last month there was an increase in the following sectors:

  • clothing and footwear - increase by 5.4%;
  • miscellaneous goods and services - increase by 1.0%;
  • restaurants and hotels - increase by 1.0%;
  • home furnishings, goods and services for the household and for the usual maintenance of the home - an increase of 0.9%;
  • alcoholic beverages and tobacco products - increase by 0.8%;
  • education - increase by 0.5%;
  • healthcare - increase by 0.2%;
  • food products and soft drinks - increase by 0.1%.

There is a decrease in the prices of:

  • entertainment and culture - decrease by 0.8%;
  • messages - decrease by 0.5%;
  • housing, water, electricity, gas and other fuels - a decrease of 0.2%.

The prices of goods and services in the "Transport" group remain at the level of last month.

Inflation measured by the Consumer Price Index monthly:

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Tags: income, inflation, GDP, Bulgaria


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