Financial News: Bulgaria GDP Growth Improves; Inflation Climbs To 1-year

Bulgaria GDP Growth Improves; Inflation Climbs To 1-year High

02/14/2025 - 09:20:00 (RTTNews)

(RTTNews) - Bulgaria's economy expanded at an accelerated pace in the final quarter of 2024, a flash report from the statistical office showed on Friday.

Separate official data showed that consumer price inflation accelerated for the fourth straight month to a 1-year high in January.

Gross domestic product advanced a seasonally adjusted 3.1 percent year-on-year in the fourth quarter, following a 2.7 percent growth in the three months to September.

On the expenditure breakdown, final consumption increased 5.8 percent annually in the December quarter, and gross capital formation recovered 0.7 percent. Exports dropped 3.2 percent, while imports rose by 1.2 percent.

On a quarterly basis, GDP growth remained stable at 0.8 percent.

Elsewhere, consumer price inflation rose to 3.7 percent in January from 2.2 percent in December.

Moreover, this was the highest inflation rate since January 2024, when prices had risen 3.8 percent.

Housing and utility costs alone grew 5.0 percent from last year, and prices for food and non-alcoholic beverages climbed by 4.4 percent. Transport charges were 3.0 percent more expensive, while clothing and footwear prices dropped 2.0 percent.

On a monthly basis, consumer prices rose 2.0 percent after rising 0.4 percent a month ago.

The EU measure of inflation also quickened to a 1-year high of 3.8 percent from 2.1 percent in December. Monthly, the harmonized index of consumer prices climbed 1.8 percent.

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