Bulgaria Registers 3.5% Inflation Y/Y in Apr 2012

Business » FINANCE | May 14, 2012, Monday // 12:19| Views: | Comments: 0
Bulgaria Registers 3.5% Inflation Y/Y in Apr 2012: Bulgaria Registers 3.5% Inflation Y/Y in Apr 2012 The inflation rate in Bulgaria since the beginning of the year (April 2012 compared to December 2011) was 1.6% and the annual inflation in April 2012 compared to April 2011 was 1.7%. File photo

The consumer price index (CPI) in Bulgaria in April 2012 compared to March 2012 was 100.2%, i.e. the monthly inflation was 0.2%.

The inflation rate since the beginning of the year (April 2012 compared to December 2011) was 1.6% and the annual inflation in April 2012 compared to April 2011 was 1.7%.

The data was reported Monday by the Bulgarian National Statistical Institute (NSI).

The annual average inflation, measured by CPI, in the last 12 months (May 2011 – April 2012) compared to the previous 12 months (May 2010 - April 2011) was 3.2%.

In April 2012, compared to the previous month, the prices of goods and services in the main consumer groups have been changed as follows: food and non-alcoholic beverages - a decrease of 0.1%; alcoholic beverages and tobacco - a decrease of 0.1%; clothing and footwear - an increase of 4.2%; housing (rentals, maintenance and repair), 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 - an increase of 0.9%; communications - the prices have remained at the level of the previous month; recreation and culture - a decrease of 1.6%; education - an increase of 0.1%; restaurants and hotels - a decrease of 0.2%; miscellaneous goods and service - an increase of 0.1%.

The harmonized index of consumer prices (HICP) in April 2012 compared to March 2012 was 100.2%, i.e. the monthly inflation was 0.2%. The inflation rate since the beginning of the year (April 2012 compared to December 2011) was 1.3% and the annual inflation in April 2012 compared to April 2011 was 2.0%.

The annual average inflation, measured by HICP, in the last 12 months (May 2011 - April 2012) compared to the previous 12 months (May 2010 – April 2011) was 2.6%.

In terms of HICP in April 2012 compared to the previous month the prices of goods and services in the main consumer groups have been changed as follows: food and non-alcoholic beverages - a decrease of 0.1%; alcoholic beverages and tobacco - a decrease of 0.2%; clothing and footwear - an increase of 3.6%; housing (rentals, maintenance and repair), water, electricity, gas and other fuels - an increase of 1.1%; furnishings, household equipment and routine maintenance of the house - an increase of 0.1%; health - an increase of 0.1%; transport - an increase of 0.9%; communications - a decrease of 0.1%; recreation and culture - a decrease of 1.1%; education - an increase of 0.2%; restaurants and hotels - a decrease of 0.9%; miscellaneous goods and service - the prices have remained at the level of the previous month.

The price index of a small basket (PISB) in April 2012 compared to March 2012 was 99.9% and the overall increase since the beginning of the year (April 2012 compared to December 2011) was 101.8%.

In April compared to the previous month the prices of goods and services in the small basket for the 20% households with the lowest income, have changed as follows: food products - a decrease of 0.2%; non-food products - a decrease of 0.3%; services - an increase of 0.6%.

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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