Bulgaria is second in the eurozone in annual inflation in September with 5.6%, according to Eurostat data. Higher consumer price growth was reported only in Lithuania – 6.1%. Cyprus and Luxembourg occupy the next positions with 5.2% each.
Annual inflation in Bulgaria is accelerating compared to August, when it was 5.0% according to the harmonized index of consumer prices. On a monthly basis, however, prices in our country remained unchanged in September.
Inflation in the eurozone is accelerating
The average annual inflation in the eurozone reached 3.8% in September, compared to 3.2% a month earlier. This is the highest level since September 2023. The indicator for the European Union is the same.
The lowest annual inflation rates were in Sweden - 1.0%, as well as in Hungary and Denmark - 2.1% each.
Energy was the most significant factor in the rise in prices in the euro area in September. It contributed 1.71 percentage points to overall annual inflation, followed by services with 1.52 percentage points.
“The rise in energy prices remains the main driver of inflation in the euro area“, said economist Bert Colleen from ING, quoted by BTA.According to Eurostat data, the annual rise in energy prices in the euro area reached 18.9% in September. Inflation in services is 3.2%, in food, alcohol and tobacco products - 1.3%, and in non-energy industrial goods - 1.1%.
What the data show for Bulgaria
The National Statistical Institute reports a slightly higher annual inflation - 5.7% in September, measured by the national consumer price index. On a monthly basis, this index shows deflation of 0.2%.
The largest monthly increase in prices according to the national index was registered in transport - 3.7%. Educational services have increased in price by 3.2%, and alcoholic beverages and tobacco products - by 1.1%.
Among non-food goods, the most significant growth was recorded in methane for cars - 7.4%, gasoline A95H – 6.4%, gasoline A100H – 5.6%, and diesel fuel – 5.5%.
The difference between the two indicators is due to the different methodologies and consumer baskets. For comparison between the countries of the European Union, the harmonized Eurostat index is used, according to which Bulgaria is second in the euro area.
Sources: ec.europa.eu, bta.bg, profit.bg