Is Bulgaria Ready to Join the Eurozone?
Bulgaria's aspirations to become the 21st member of the Eurozone have sparked discussions regarding the country's economic readiness, as well as its political and institutional preparedness
The consumer price index in November 2018 compared to October 2018 was 99.9%, i.e. the monthly inflation was -0.1%. The inflation rate since the beginning of the year (November 2018 compared to December 2017) has been 2.7% and the annual inflation in November 2018 compared to November 2017 was 3.1%.
The annual average inflation, measured by CPI, in the last 12 months (December 2017 - November 2018) compared to the previous 12 months (December 2016 - November 2017) was 2.8%.
In November 2018 compared to the previous month the prices of goods and services in the main consumer groups changed as follows: • Food and non-alcoholic beverages - a decrease of 0.2%; • Alcoholic beverages and tobacco - an increase of 0.1%; • Clothing and footwear - a decrease of 0.1%; • Housing, water, electricity, gas and other fuels - an increase of 0.7%; • Furnishings, household equipment and routine maintenance of the house - a decrease of 0.5%;
• Health - an increase of 0.1%; • Transport - a decrease of 3.0%; • Communications - an increase of 0.8%; • Recreation and culture - an increase of 0.3%; • Education - the prices remained at the level of the previous month; • Restaurants and hotels - an increase of 0.5%; • Miscellaneous goods and service - an increase of 0.4%.
The harmonized index of consumer prices in November 2018 compared to October 2018 was 99.7%, i.e. the monthly inflation was -0.3%. The inflation rate since the beginning of the year (November 2018 compared to December 2017) has been 2.3% and the annual inflation in November 2018 compared to November 2017 was 3.0% (Annex, Table 2). The annual average inflation, measured by HICP, in the last 12 months (December 2017 - November 2018) compared to the previous 12 months (December 2016 - November 2017) was 2.6%. In terms of HICP, in November 2018 compared to the previous month the prices of goods and services in the main consumer groups changed as follows: • Food and non-alcoholic beverages - a decrease of 0.1%; • Alcoholic beverages and tobacco - an increase of 0.1%; • Clothing and footwear - a decrease of 0.1%; • Housing, water, electricity, gas and other fuels - an increase of 0.8%; • Furnishings, household equipment and routine maintenance of the house - a decrease of 0.4%.
Health - an increase of 0.1%; • Transport - a decrease of 2.6%; • Communications - an increase of 0.3%; • Recreation and culture - an increase of 0.3%; • Education - the prices remained at the level of the previous month; • Restaurants and hotels - an increase of 0.3%; • Miscellaneous goods and service - an increase of 0.3%.
The price index of a small basket in November 2018 compared to October 2018 was 100.2% and the overall increase since the beginning of the year (November 2018 compared to December 2017) has been 103.1% (Annex, Table 3). In November 2018 compared to the previous month the prices of goods and services in the small basket for the 20% households with the lowest income changed as follows: • Food products - an increase of 0.2%; • Non-food products - an increase of 0.1%; • Services - an increase of 0.4%.
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