Bulgaria Registers Positive July 2012 Inflation

Business » FINANCE | August 13, 2012, Monday // 13:54
Bulgaria Registers Positive July 2012 Inflation: Bulgaria Registers Positive July 2012 Inflation In July 2012, Bulgaria registered a monthly inflation of 1.5%, according to the National Statistics. File photo

The Consumer Price Index in Bulgaria in July 2012 compared to June 2012 was 101.5%, i.e. the monthly inflation was 1.5%.

The inflation rate since the beginning of the year (July 2012 compared to December 2011) was 2.1% and the annual inflation in July 2012 compared to July 2011 was 3.1%.

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

In July 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 - an increase of 0.6%; alcoholic beverages and tobacco - an increase of 0.1%; clothing and footwear - a decrease of 1.0%; housing (rentals, maintenance and repair), water, electricity, gas and other fuels - an increase of 6.3%; furnishings, household equipment and routine maintenance of the house - an increase of 0.1%; health - the prices have remained at the level of the previous month; transport - an increase of 1.5%; communications - a decrease of 0.1%; recreation and culture - an increase of 2.9%; education - the prices have remained at the level of the previous month; restaurants and hotels - an increase of 0.5%; miscellaneous goods and service - a decrease of 0.1%.

The Harmonized Index of Consumer Prices, HICP, in July 2012, compared to June 2012, was 101.1%, i.e. the monthly inflation was 1.1%. The inflation rate since the beginning of the year (July 2012 compared to December 2011) has been 1.8% and the annual inflation in July 2012 compared to July 2011 was 2.4%.

The annual average inflation, measured by HICP, in the last 12 months (August 2011 - July 2012) compared to the previous 12 months (August 2010 – July 2011) was 2.3%.

In terms of HICP in July 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 - an increase of 0.6%; alcoholic beverages and tobacco - an increase of 0.1%; clothing and footwear - a decrease of 0.9%; housing (rentals, maintenance and repair), water, electricity, gas and other fuels - an increase of 6.4%; furnishings, household equipment and routine maintenance of the house - the an increase of 0.2%; health - the prices have remained at the level of the previous month; transport - an increase of 1.4%; communications - a decrease of 0.1%; recreation and culture - an increase of 1.8%; education - an increase of 0.1%; restaurants and hotels - an increase of 1.3%; miscellaneous goods and service - an increase of 0.1%.

The Price Index of a Small Basket, PISB, in July 2012, compared to June 2012, was 102.2% and the overall increase since the beginning of the year (July 2012 compared to December 2011) has been 102.3%.

In July 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 - an increase of 0.6%; non-food products - an increase of 0.1% services - an increase of 8.4%.

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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