Bulgaria's Inflation Shows Signs of Stabilization in August 2024

In August 2024, Bulgaria experienced a monthly inflation rate of 0.1%, while the annual inflation compared to August 2023 stood at 2.1%, according to data from the National Statistical Institute (NSI). Year-to-date inflation (from August 2024 compared to December 2023) is recorded at 1.2%, with the average annual inflation for the period from September 2023 to August 2024 at 3.6%, compared to the previous year.

Price increases in August 2024 were noted in several consumer categories. "Food products and non-alcoholic beverages" saw a rise of 0.9%, while "Entertainment and culture" increased by 0.5%. Additionally, "Alcoholic beverages and tobacco products" rose by 0.3%, "Messages" by 0.2%, and "Various goods and services" also by 0.2%.

Conversely, prices in some sectors decreased. "Clothing and shoes" experienced a notable drop of 3.3%, while "Transport" declined by 0.9%. The categories "Home furnishings, goods and services for household maintenance" and "Restaurants and hotels" saw minor decreases of 0.2% and 0.1%, respectively.

Specific food products showed significant price changes in August 2024. Notable increases included cabbage, which surged by 22.8%, and leafy vegetables, up by 15.9%. Other notable rises included citrus fruits at 8.0%, peaches and apricots at 6.1%, and various dairy products seeing increases ranging from 1.9% to 5.1%.

On the other hand, several food items experienced price reductions. Watermelons and melons fell by 18.4%, while root vegetables like carrots and beets dropped by 4.0%. Other decreases were observed in potatoes (3.8%), cottage cheese (2.1%), and fresh fish (1.9%).