Bulgaria’s consumer confidence index has dropped by 0.6 percentage points in July compared to April, mainly due to increased pessimism among the urban population.

While the consumers’ assessment of the economic situation in the country over the last 12 months was less negative in comparison with the previous inquiry,there was a degree of pessimism in their expectations about the next 12 months, the country’s statistical office NSI announced on Thursday.

The consumers continued to believe that consumer prices had risen over the last 12 months but the rate of increase was estimated as lower compared with the April survey. At the same time the consumers’ inflation expectations about the next 12 months increased, the NSI said.

The July survey also showed increased pessimism among consumers with regard to unemployment over the next 12 months.

The assessments and expectations of the consumers living in the cities with regard to the financial situation of the households have worsened in July compared with April, while optimism has increased among the rural population, according to the NSI.