Bulgaria Sees Significant Property Price Growth, Ranking Second Globally in 2024
Property prices in Bulgaria continue to experience significant growth, with data from the National Statistical Institute
In August 2024, Bulgaria experienced a monthly inflation rate of 0.1%, while the annual inflation compared to August 2023 stood at 2.1%, according to data from the National Statistical Institute (NSI). Year-to-date inflation (from August 2024 compared to December 2023) is recorded at 1.2%, with the average annual inflation for the period from September 2023 to August 2024 at 3.6%, compared to the previous year.
Price increases in August 2024 were noted in several consumer categories. "Food products and non-alcoholic beverages" saw a rise of 0.9%, while "Entertainment and culture" increased by 0.5%. Additionally, "Alcoholic beverages and tobacco products" rose by 0.3%, "Messages" by 0.2%, and "Various goods and services" also by 0.2%.
Conversely, prices in some sectors decreased. "Clothing and shoes" experienced a notable drop of 3.3%, while "Transport" declined by 0.9%. The categories "Home furnishings, goods and services for household maintenance" and "Restaurants and hotels" saw minor decreases of 0.2% and 0.1%, respectively.
Specific food products showed significant price changes in August 2024. Notable increases included cabbage, which surged by 22.8%, and leafy vegetables, up by 15.9%. Other notable rises included citrus fruits at 8.0%, peaches and apricots at 6.1%, and various dairy products seeing increases ranging from 1.9% to 5.1%.
On the other hand, several food items experienced price reductions. Watermelons and melons fell by 18.4%, while root vegetables like carrots and beets dropped by 4.0%. Other decreases were observed in potatoes (3.8%), cottage cheese (2.1%), and fresh fish (1.9%).
Overall, the data indicates a gradual stabilization in inflation within Bulgaria, reflecting both increases and decreases across various sectors and products.
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