Bulgaria’s inflation rate held steady in April from the previous month as declining output triggered by the euro area’s debt crisis kept a lid on demand and price growth.
The headline rate was 1.7 percent from a year earlier, the National Statistics Institute in Sofia said in a statement today, matching the median estimate of five economists surveyed by Bloomberg. Prices rose 0.2 percent from the previous month.
Bulgaria, the European Union’s poorest country in terms of economic output per capita, withstood the global recession in 2009 without an international bailout. Industrial output dropped 3.2 percent in March from a year earlier, the slowest in two years, as the debt crisis damped demand for Bulgarian exports.
The country’s EU-harmonized inflation will ease to 2.6 percent on average in 2012 and 2.7 percent in 2013 according to the EU forecast on May 11.