Bulgarian Households Allocated One-Third of Budgets to Food Expenses

Society | November 19, 2023, Sunday // 13:08
Bulgaria: Bulgarian Households Allocated One-Third of Budgets to Food Expenses @novinite.com

Recent data released by the National Statistical Institute sheds light on the spending patterns of households in Bulgaria during the third quarter of 2023. The figures reveal a notable rise in both average incomes and expenditures compared to the same period in 2022.

Per household member, the average total income surged by 22.5% to EUR 1,469.45, showcasing a significant uptick. In parallel, spending per household member also rose, reaching EUR 1,387.65, reflecting a 21.2% increase compared to the previous year.

The breakdown of expenditure shows a dominant allocation towards essential needs. Notably, food and soft drinks constituted the largest portion of household spending, accounting for 28.7% of the total expenditure. Housing costs followed closely, representing 16.1% of expenses, while taxes and social security installments comprised 12.7%, and transport and communications absorbed 11.5%.

These figures underscore the financial allocation priorities within Bulgarian households, indicating a considerable portion of their budgets directed towards sustenance-related expenses.

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Tags: Bulgaria, household, expenditure, food

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