Bulgaria: Up to 10% Increase in Food Prices by the End of the Year

Business » FINANCE | November 3, 2021, Wednesday // 09:44
Bulgaria: Bulgaria: Up to 10% Increase in Food Prices by the End of the Year Pixabay

In their personal experience, people feel a rise in prices - 97% of respondents aged 18 to 64 have felt the rise in prices, mostly in food, fuel and heating costs.

There are widespread concerns that prices will continue to rise. With a significant price increase, 78% of respondents will limit their consumption of non-essential goods, buy smaller quantities or postpone larger purchases.

The research is of a consulting company.

Up to 10 percent increase in food prices by the end of the year, experts predict. However, the upward trend in recent months has slowed due to shrinking consumption and a competitive market.

High electricity and fuel prices act as an unfavorable factor on the market.

Consumers estimate the effect of rising food prices on household budgets by an average of between 20 and 25 percent over the last year:

-"Everything from basic necessities has risen in price, from bread to oil." And generally, because we are both retired, we use the promotions and discounts of the big chains;

- I buy what I like, if it's expensive, that's the general situation.

Consumers' perception of rising food prices differs significantly from expert analysis, which shows the largest growth in the last year for oil by 32 percent and poultry meat by 20 percent. Cheese has risen in price by 12 percent and yellow cheese by 10 percent, says Vladimir Ivanov of the State Commission on Commodity Exchanges and Markets:

"As of November 1, last year we gave BGN 74 to these 27 products, purchased per unit. Ie a kilo of sugar, a kilo of flour, a kilo of oil, a kilo of meat, and at the moment we give 80 leva, that is, we have 8 leva difference in the consumer basket”.

/BNR

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