Bulgarian Inflation Accelerates in September on Fuel, Foods

Bulgarian inflation accelerated in September on higher food and fuel prices, which increased transport and production costs.

Consumer prices rose 4.9 percent from a year earlier, compared with a 3.9 percent increase in August, the National Statistics Institute in Sofia said in a statement today. The median estimate of three economists surveyed by Bloomberg was 4.5 percent. Prices advanced 1.1 percent from the previous month.

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 7.1 percent August after 4.5 percent in July.

The country’s EU-harmonized inflation will ease to 2.6 percent on average this year and to accelerate 3.4 percent in 2013, the government forecast on Oct. 3. The International Monetary Fund forecast this year’s average inflation at 2.5 percent on Oct. 2.

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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