Bulgaria’s Real Estate Market and the Euro: What to Expect After Adoption
The question of how Bulgaria’s adoption of the euro will influence the real estate market has sparked considerable interest among property owners
According to preliminary NSI data, the consumer price index for Bulgaria in January 2022 compared to December 2021 was 101.5%, i.e. monthly inflation is 1.5%. The annual inflation for January 2022 compared to January 2021 was 9.1%.
The average annual inflation for the period February 2021 - January 2022 compared to the period February 2020 - January 2021 was 4.1%.
In January 2022, compared to the previous month, the prices of goods and services in consumer groups changed as follows:
• food and non-alcoholic beverages - an increase of 2.4%;
• alcoholic beverages and tobacco products - an increase of 0.2%;
• clothing and footwear - a decrease of 1.8%;
• housing, water, electricity, gas and other fuels - an increase of 1.4%;
• home furnishings, household appliances and accessories and routine maintenance of the home - an increase of 1.2%;
• healthcare - increase by 0.4%;
• transport - an increase of 0.6%;
• announcements - prices remain at the level of last month;
• entertainment and culture - an increase of 3.8%;
• education - an increase of 0.2%;
• restaurants and hotels - an increase of 2.3%;
• miscellaneous goods and services - an increase of 1.7%.
In January 2022 the prices of the following food products increased: rice - by 1.3%, flour - by 4.2%, white bread - by 2.9%, type and rye bread - by 3.0%, pasta - by 5.3%, meat from cattle - by 1.4%, poultry meat - by 1.2%, minced meat (minced meat) - by 2.3%, fish - by 2.6%, whole and low-fat milk - by 0.7 and 1.3%, respectively, yogurt - by 1.4%, cheese - by 1.6%, yellow cheese and cottage cheese - by 4.3%, eggs - by 0.8%, milk oils - by 5.8%, oil - by 4.4%, apples - by 3.7%, citrus and southern fruits - by 1.0%, tomatoes - by 13.4%, cucumbers - by 16.4%, cabbage - by 8.9%, peppers - by 22.2%, green onions and leeks - by 3.1%, mushrooms - by 3.5%, ripe beans - by 1.8%, lentils - by 4.9%, sugar - by 2.5%, chocolate and chocolate products - by 1.0%, salt - by 2.1%, coffee - by 2.3%, tea - by 3.0%, mineral water - by 2.6%, carbonated drinks - by 2.0 %, brandy - by 1.3%, wine - by 0.4%, beer - by 0.6%, and others.
In January 2022 the prices of the following food products decreased: Dobrudja bread - by 0.1%, pork - by 0.8%, perishable and perishable sausages - by 0.9 and 0.8%, respectively, margarine - by 0.4%, dried fruits and nuts - by 0.5%, ripe onions - by 1.3%, root vegetables (carrots and beets) - by 0.3%, olives - by 1.6%, potatoes - by 1.1%, vinegar - by 0.2%, fruit juices - by 0.1 %, and other.
During the month in the groups of non-food goods and services there was an increase in prices for: materials for repair and maintenance of housing - by 2.7%, central gas supply - by 24.0%, gaseous fuels for domestic use - by 1.0%, coal - by 3.1 %, firewood - by 2.6%, refrigerators - by 2.9%, washing machines and dishwashers - by 1.6%, dishwashing detergents - by 4.9%, other cleaning and disinfecting agents (liquid household cleaners) - by 2.3 %, new cars - 0.4%, diesel fuel - by 0.8%, motor gasoline A95H - by 0.6%, motor gasoline A100H - by 0.4%, methane for LTS - by 20.3%, maintenance and repair of LTS - by 2.8%, courses for drivers of LTS - by 1.7%, floristry - by 1.2%, newspapers - by 1.2%, catering services - by 2.1%, barber and hairdressing services - by 3.3%, personal hygiene products - by 0.9%, cosmetics - by 3.1%, and others.
In January 2022 in the groups of non-food goods and services there was a decrease in prices for: clothing and footwear - by 2.0 and 1.6%, pellets - by 1.7%, vacuum cleaners - by 0.8%, accessories for LTS - by 0.1%, LPG for LTS - by 1.3%, TVs - by 0.5%, laptops - by 1.0%, and others.
In January 2022 an increase was registered in the prices of: medicinal products - by 0.3%, medical and dental services - by 0.9 and 1.2%, respectively.
Harmonized Index of Consumer Prices (HICP)
According to preliminary NSI data, the harmonized index of consumer prices for January 2022 compared to December 2021 is 101.2%, i.e. monthly inflation is 1.2%. The annual inflation for January 2022 compared to January 2021 was 7.7%
The average annual inflation for the period February 2021 - January 2022 compared to the period February 2020 - January 2021 was 3.5%.
According to the HICP, in January 2022, compared to the previous month, prices of goods and services in consumer groups changed as follows:
• food and non-alcoholic beverages - an increase of 2.2%;
• alcoholic beverages and tobacco products - an increase of 0.3%;
• clothing and footwear - a decrease of 1.7%;
• housing, water, electricity, gas and other fuels - an increase of 1.9%;
• home furnishings, household appliances and accessories and routine maintenance of the home - an increase of 1.1%;
• healthcare - increase by 0.4%;
• transport - an increase of 0.2%;
• announcements - prices remain at the level of last month;
• entertainment and culture - an increase of 1.9%;
• education - an increase of 0.3%;
• restaurants and hotels - an increase of 2.3%;
• various goods and services - an increase of 1.2%.
Small Basket Price Index (SBPI)
According to preliminary NSI data, the price index for the small basket for January
2022 compared to December 2021 is 101.7% (Table 3 of the Annex).
In January 2022, the prices of goods and services from the small basket for the lowest 20% of households changed compared to the previous month, as follows:
• food products - an increase of 2.9%;
• non-food products - an increase of 0.8%;
• services - an increase of 0.1%.
/BGNES
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