Bulgarian Inflation Accelerates in August on Oil Costs

Bulgarian inflation accelerated in August as higher fuel prices increased transport and production costs.

Consumer prices rose 3.9 percent from a year earlier, compared with a 3.8 percent increase in July, the National Statistics Institute in Sofia said in a statement today. The median estimate of three economists surveyed by Bloomberg was 3.8 percent. Prices advanced 0.5 percent from the previous month.

The country’s EU-harmonized inflation will ease to 2.6 percent on average in 2012 and 2.7 percent in 2013, the EU forecast on May 11. Bulgaria, the European Union’s poorest country in terms of economic output per capita, withstood the global recession without an international bailout. Producer prices rose 4.5 percent July after 3.3 percent in June.

To contact the reporter on this story: Elizabeth Konstantinova in Sofia at ekonstantino@bloomberg.net

To contact the editor responsible for this story: James M. Gomez at jagomez@bloomberg.net

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