November Inflation in Bulgaria Hits Three-Month High Amid Rising Costs

Annual inflation in Bulgaria accelerated in November, rising to 2.1% compared to 1.8% in October, marking a three-month high, according to data from the National Statistical Institute (NSI). On a monthly basis, the consumer price index increased by 0.6%, following a 1.1% rise in October.

Food prices saw the most significant monthly increase in November, climbing by 1.4%, while prices in the "entertainment and culture" category rose by 1.3%. Transport costs, along with those for alcoholic beverages and tobacco, recorded a 0.7% increase. On the other hand, prices for goods in the "clothing and footwear" category fell by 1.3%, as did prices in the "housing furnishings, household goods and services" group, which declined by 0.4%.

The higher annual inflation rate in November was largely driven by steeper price increases in food and non-alcoholic beverages, which rose by 4.1% compared to 2.8% in October. Alcohol and tobacco prices increased by 6.4%, up from 5.8% a month earlier, while education costs grew by 7.1%, compared to 6.8% in October. Conversely, transport costs fell by 3.4% on an annual basis, although this decline was less pronounced than the 4.7% drop reported in October. Price growth in housing and utilities also slowed to 2.5% from 4.2% in October, as did the increase in costs in the restaurant and hotel sector, which moderated to 7.5% from 7.7%.

The harmonized consumer price index (HCPI), which is used as a standard measure of inflation across EU countries, rose by 0.3% on a monthly basis in November. On an annual basis, the harmonized inflation rate increased for the second consecutive month, reaching 2.0%. This index is a key criterion for price stability and plays a role in Bulgaria's preparations for...