17.05.2022

THE ANNUAL INFLATION RATE IN BULGARIA HAS ACCELERATED

The annual inflation rate in Bulgaria accelerated in April 2022 for the 14th consecutive month, reaching 14.4% compared to 12.4% in the previous month, according to data from the National Statistical Institute (NSI). This is the highest level of inflation in our country since 2008.

Compared to March, consumer prices in our country increased by 2.5% in April, after a month earlier they increased by 2.2%.

The average annual inflation for the period May 2021 - April 2022 compared to the period May 2020 - April 2021 is 7.0 percent.

The main upward pressure on inflation in April was exerted by the prices of clothing and footwear, which increased by 6.4% compared to March, as well as the prices of food and non-alcoholic beverages, which increased by 4.5%.

There is another increase in transport prices, which increased by 3.5% compared to March, when they jumped by 7.9%.

Prices in restaurants and hotels jumped by 2.6 percent within a month, and those for housing, water, electricity, gas and other fuels (for utilities) increased on a monthly basis by 1.7%.

Another increase in transport prices is due to a new increase in fuel prices in April compared to the previous month, as the price of gasoline A95H increased by 3.5%, gasoline A100H - by 3.1%, and propane-butane gas - by 2.7% and diesel by 6%, however, after fuel prices jumped by more than 10% in March.

In April, a solid jump in food prices was recorded in meat, with pork rising by 7.8%, lamb by 12.9% and poultry by 10.2%.

The price of yoghurt increased in April by 4.3%, of cheese by 4.4%, of yellow cheese - by 3.5%, and of eggs - by 5.2%.

Rice rose by 3% and flour - by 4 percent.

There is a serious jump of 20% in the prices of tomatoes, pepper rose by 16.3% and potatoes - by 8.9%.

In April, a small part of food prices fell, with the largest price decline of 12.1% in cucumbers, leafy vegetables - by 0.1% and fresh and chilled fish - by 2.4 percent.

Harmonized inflation (HICP according to common European standards) rose by 2.1% on a monthly basis in April, while harmonized consumer inflation on an annual basis accelerated to 12.1% from 10.5% in March.

The Harmonized Index of Consumer Prices is a comparable measure of inflation in EU countries. It is one of the criteria for price stability and for Bulgaria's accession to the eurozone.