Financial News: Bulgaria Inflation Rises Less Than Estimated

Bulgaria Inflation Rises Less Than Estimated

(RTTNews) - Bulgaria's consumer price inflation accelerated slightly less than estimated in May to the highest level in more than two-and-a-half years, the latest data from the National Statistical Institute showed on Monday.

The consumer price index, or CPI, climbed 6.9 percent year-over-year in May, faster than the 6.8 percent rise in April. In the flash estimate, the inflation rate was 7.0 percent. Further, this was the strongest inflation since August 2023, when prices surged 7.7 percent.

The rise in inflation was largely driven by a 21.6 percent jump in transportation costs.

Inflation based on housing and utilities accelerated to 5.2 percent from 4.7 percent. Meanwhile, the annual price growth in food and non-alcoholic beverages moderated to 4.4 percent from 5.3 percent.

On a monthly basis, consumer prices remained flat in May, revised from a 0.3 percent increase seen in the flash estimate.

The EU measure of inflation, the harmonized index of consumer prices, rose at a faster pace of 6.3 percent annually in May versus a 6.0 percent increase in April, as estimated. Moreover, this was the highest HICP inflation rate in thirty-two months.

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