Bulgaria Registers Deflation Nov 2012 M/M

Business | December 12, 2012, Wednesday // 14:57| Views: 876 | Comments: 0
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Bulgaria Registers Deflation Nov 2012 M/M: Bulgaria Registers Deflation Nov 2012 M/M In OctIn November 2012, Bulgaria registered an annual inflation of 3.9%., according to the National Statistics. File phot

The consumer price index in Bulgaria in November 2012, compared to October 2012, was 99.9%, i.e. the monthly inflation was -0.1%.

The inflation rate since the beginning of the year (November 2012 compared to December 2011) had been 3.8% and the annual inflation in November 2012 compared to November 2011 was 3.9%.

The annual average inflation, measured by CPI, in the last 12 months (December 2011 - November 2012), compared to the previous 12 months (December 2010 - November 2011) was 2.8%.

In November 2012, 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 0.3%; alcoholic beverages and tobacco - an increase of 0.1%; clothing and footwear - an increase of 1.3%; housing (rentals, maintenance and repair), water, electricity, gas and other fuels - an increase of 0.4%; furnishings, household equipment and routine maintenance of the house - a decrease of 0.4%; health - a decrease of 0.2%; transport - a decrease of 1.7%; communications - the prices remained at the level of the previous month; recreation and culture - an increase of 0.1%; education - the prices remained at the level of the previous month; restaurants and hotels - an increase of 0.4%; miscellaneous goods and service - a decrease of 0.2%.

The harmonized index of consumer prices in November 2012, compared to October 2012, was 99.8%, i.e. the monthly inflation was -0.2%.

The inflation rate since the beginning of the year (November 2012 compared to December 2011) had been 2.5% and the annual inflation in November 2012 compared to November 2011 was 2.7%.

The annual average inflation, measured by HICP, in the last 12 months (December 2011 - November 2012), compared to the previous 12 months (December 2010 - November 2011) was 2.3%.

In terms of HICP in November 2012 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 - an increase of 1.2%; housing (rentals, maintenance and repair), water, electricity, gas and other fuels - an increase of 0.3%; furnishings, household equipment and routine maintenance of the house - an increase of 0.1%; health - a decrease of 0.1%; transport - a decrease of 1.3%; communications - a decrease of 0.1%; recreation and culture - a decrease of 0.1%; education - the prices remained at the level of the previous month; restaurants and hotels - an increase of 0.3%; miscellaneous goods and service - a decrease of 0.1%.

The price index of a small basket in November, 2012 compared to October 2012, was 99.9% and the overall increase since the beginning of the year (November 2012 compared to December 2011) had been 104.9%.

In November, 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 - a decrease of 0.2%; non-food products - a decrease of 0.1%; services - an increase of 0.2%.

The harmonized index of consumer prices (HICP) is the comparable measure of inflation across EU Member states. It is one of the criterions of price stability and for readiness of Bulgaria to join the Euro Zone.

HICP, as well as CPI, measures the total relative price change of goods and services. Both indices are calculated using the same basket of goods and services, but differ with respect to the used weights. HICP is calculated through the use of weights, which reflect the individual and the collective consumption of all households (incl. institutional and foreign households) on the economic territory of the country. The main source of information for HICP weights is the national accounts data.

The price index of a small basket (PISB) is a measurement of the relative average price changes of 100 socially useful and vital for the living goods and services. The weights of this index reflect he expenditures of the 20% lowest income households. The source of weights information is the Households Budget Survey in the country.

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Tags: annual, average, monthly, inflation, NSI, consumer price index, CPI, price index of a small basket, PISB, harmonized index of consumer prices, HICP
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