Bulgaria Reports 0,4% Deflation in June

Business | July 12, 2007, Thursday // 00:00| Views: | Comments: 0
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Consumer prices in Bulgaria fell by 0,4% in June, compared to the previous month, preliminary data from the country's National Statistics Institute showed on Thursday.

Food prices, which account for more than half of the consumer price index (CPI), fell by 1,3%, compensating for the small increases across the other sectors. Non-food prices grew by 0,1%, while service prices rose by 0,2%.

Year-on-year inflation at the end of the month rose to 5,6% from 4,3% the previous month. Cumulative inflation for the first half of the year was 2,0%.

Bulgaria's economic forecasts agency AEAF sees the annual inflation figure falling to 3,4% in 2007, which would allow the country to join the Exchange Rate Mechanism (ERM II), the euro "waiting room", at the beginning of next year.
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