Inflation in Bulgaria Picks Up to 2.0%, Remains Below EU Average

In October, annual harmonized inflation in the European Union increased to 2.3%, with the Eurozone reporting a rate of 2.0%, according to Eurostat data. Inflation rates in both the EU and the Eurozone have risen compared to the previous month, with the September figures at 2.1% and 1.7%, respectively. However, these rates remain significantly below those recorded in October 2023, when EU inflation stood at 3.6% and the Eurozone at 2.9%.

In Bulgaria, harmonized inflation strengthened to 2.0% in October, up from 1.5% in September. This increase places Bulgaria among the 14 EU countries with inflation rates below the EU average of 2.3%, while 13 member states recorded higher levels. Compared to a year ago, when Bulgarian inflation was 5.9%, the current figure reflects a significant reduction.

On a monthly basis, consumer prices in the Eurozone rose by 0.3% in October, while the EU as a whole saw a 0.4% increase. Similarly, Bulgaria experienced a 0.6% rise in harmonized consumer inflation compared to September, aligning with recent data from the National Statistical Institute (NSI).