Bulgaria Registers 4.8% Inflation Y/Y in May 2011

Business » FINANCE | June 14, 2011, Tuesday // 11:46
Bulgaria Registers 4.8% Y/Y Inflation May 2011: Bulgaria Registers 4.8% Inflation Y/Y in May 2011 The annual average inflation in Bulgaria, measured by CPI, in the last 12 months (June 2010 - May 2011) compared to the previous 12 months (June 2009 - May 2010) was 4.0%. File photo

The consumer price index (CPI) in Bulgaria in May 2011, compared to April 2011, was 100%, meaning the monthly inflation was 0%.

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

The inflation rate since the beginning of the year (May 2011 compared to December 2010) was 2.6% and the annual inflation in May 2011 compared to May 2010 was 4.8%.

The annual average inflation, measured by CPI, in the last 12 months (June 2010 - May 2011) compared to the previous 12 months (June 2009 - May 2010) was 4.0%.

In May 2011 compared to the previous month prices of goods and services in the main consumer groups have been changed as follows: food and non-alcoholic beverages - a decrease of 0.5%; alcoholic beverages and tobacco - a decrease of 0.2%; clothing and footwear - an increase of 0.5%; housing (rentals, maintenance and repair), water, electricity, gas and other fuels - prices

have remained at the level of the previous month; furnishings, household equipment and routine maintenance of the house - an increase of 0.4%; health - an increase of 0.1%; transport - an increase of 1.6%; communications - a decrease of 0.1%; recreation and culture - a decrease of 0.2%; education - prices have remained at the level of the previous month; restaurants and hotels - an increase of 0.2%; miscellaneous goods and service - prices have remained at the level of the previous month.

The harmonized index of consumer prices (HICP) in May 2011, compared to April 2011, was 100.1%, i.e. the monthly inflation was 0.1%.

The inflation rate since the beginning of the year (May 2011 compared to December 2010) was 1.4% and the annual inflation in May 2011 compared to May 2010 was 3.4%

The annual average inflation, measured by CPI, in the last 12 months (June 2010 - May 2011) compared to the previous 12 months (June 2009 - May 2010) was 3.7%.

In terms of HICP in May 2011 compared to the previous month prices of goods and services in the main consumer groups have been changed as follows: food and non-alcoholic beverages - a decrease of 0.4%; alcoholic beverages and tobacco - a decrease of 0.2%; clothing and footwear - an increase of 0.6%; housing (rentals, maintenance and repair), water, electricity, gas and other fuels – prices have remained at the level of the previous month; furnishings, household equipment and routine maintenance of the house - an increase of 0.2%; health - an increase of 0.2%; transport - an increase of 1.1%; communications - a decrease of 0.4%; recreation and culture - a decrease of 0.3%; education - the prices have remained at the level of the previous month; restaurants and hotels - a decrease of 0.1%; miscellaneous goods and service - an increase of 0.2%.

The price index of a small basket (PISB) in May 2011, compared to April 2011 was 99.5%, and the overall increase since the beginning of the year (May 2011 compared to December 2010) was 103.9%

In May 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 1.0%; non-food products - an increase of 0.1%; services - an increase of 0.1%.

The consumer price index (CPI) is the official measure of inflation in the Republic of Bulgaria. It measures the total relative price change of goods and services used by households for private (nonproduction) consumption and it is calculated by applying the structure of the final monetary consumption expenditures of the Bulgarian households. The main source of information for the expenditures is the household budget survey in the country.

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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