In One Year: Inflation in Bulgaria has Halved but Prices Continue to Rise

Finance | October 21, 2023, Saturday // 11:12|  views

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In one year, inflation in Bulgaria has halved, but consumer prices continue to rise. The price increase is most significant for food and fuel. On the threshold of the cold season, heating costs start to weigh on people, as well.

The National Statistical Institute measured inflation at 6.3 percent for the last month. The lowest in two years. The trend is also confirmed by the comparison for the last year:

For September 2022, annual inflation was 15.6%. This year - as of September, inflation is 6.3%, says financier Ivan Stoykov and notes that prices continue to rise, but at a slower pace.

Official statistics even show mild deflation compared to the previous month, but the burden of the rising cost of living for households remains. The small consumer basket has increased in price by half a percent in a month and by nearly four percent since the beginning of the year. But why does personal inflation diverge from official inflation?

"Everyone uses different types of goods and services and pays different money. There are different quantities - the size of the basket, what is in this basket and how much does it cost are all relative factors", added Stoykov for the National Radio.

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Tags: inflation, prices, Bulgaria

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