Bulgaria’s inflation hits new record of 15.6% y/y in May

Bulgaria’s inflation hits new record of 15.6% y/y in May

By bne IntelliNews June 16, 2022

Bulgaria’s consumer prices increased by 15.6% y/y in May, after rising by 14.4% y/y in April, reaching the highest level since July 2008, the statistics office reported on June 15.

Inflation has been rising for 15 consecutive months but started speeding up in the past several months due to surging energy prices. It reached a nine-year high in September 2021, going up by 4.8% y/y, and continued climbing in the following months, accelerating after the start of the war in Ukraine.

The consumer price index (CPI) moved up 1.2% month-on-month and was by 9.1% higher from end-December, the National Statistical Institute (NSI) said in a statement.

Food prices increased by 22.7% y/y in May, after rising by 21.3% y/y in April. Annual consumer price inflation was more significant in transport (up 32.6% y/y), restaurants and hotels (up 17.9% y/y), utilities (up 17.5% y/y) and housing (up 11.4% y/y).

Compared to the previous month, transport costs increased the most, by 3.2%, followed by restaurants and hotels (+2% m/m) and food prices (+1.8% m/m).

The Harmonised Index of Consumer Prices (HICP) increased 13.4% y/y in May, after rising 12.1% y/y in April. The HICP was up 1.3% m/m in May.

Read in IntelliNews Pro

Get IntelliNews Pro

Related Content

INTERVIEW: Mobilising private finance for a greener future

CBR: October macroeconomic forecast upgrades 2024 growth, but will slow in 2025

Turkey sticks with 50% policy rate for eighth straight month

INTERVIEW: Mobilising private finance for a greener future

CBR: October macroeconomic forecast upgrades 2024 growth, but will slow in 2025

Turkey sticks with 50% policy rate for eighth straight month

Data

CBR: October macroeconomic forecast upgrades 2024 growth, but will slow in 2025

The ranges of analysts’ forecasts for the next years have narrowed for most indicators. At the same time, the ranges for GDP growth, unemployment rate, RUB/$ exchange rate, exports, imports and Brent oil price are widening by the end of the period,

Turkey sticks with 50% policy rate for eighth straight month

Reports say some carry traders have closed lira positions, but the smooth nominal devaluation and real lira appreciation policy remains on track.

More than half of Ukrainians favour peace talks as war reaches 1,000 days, finds Gallup poll

Over half of Ukrainians now support negotiations to end the war with Russia, marking a significant shift in public sentiment as the conflict surpasses its 1,000th day, according to Gallup polls released on November 19.

What happens if aid to Ukraine collapses under Trump?

Researchers at the Kiel Institute for the World Economy, which has been tracking aid to Ukraine's war effort, have calculated hypothetical scenarios of what they believe Ukraine aid could look like in 2025, once Trump takes office in January.

Popular support for Ukraine falling amongst allies

Nato's most recent survey of its member country populations showed that even among those nations that are Ukraine's biggest supporters in terms of its war effort against Russia, many constituents disagree with continued support, Statista reports.

CBR: October macroeconomic forecast upgrades 2024 growth, but will slow in 2025

Turkey sticks with 50% policy rate for eighth straight month

More than half of Ukrainians favour peace talks as war reaches 1,000 days, finds Gallup poll

What happens if aid to Ukraine collapses under Trump?

Popular support for Ukraine falling amongst allies

Dismiss

Chat with usLiveChat