Bulgaria Posts Deflation for 13th Month Running in August
Tuesday, 16 September 2014
Bulgaria’s consumer prices fell 0.6% year-on-year in August, marking the 13th straight month of deflation, official figures showed on Monday.
The drop in consumer prices, however, has slowed down for a third month running, compared to the hefty decline of over 2.5% in February 2014.
The slowdown is in line with the latest forecast of the Bulgarian National Bank, which said last month that consumer prices would keep decreasing in the remainder of the year, albeit at a lower rate.
Caretaker Finance Minister Rumen Porozhanov said earlier this month that the cabinet expects the Bulgaria’s economy to grow by 1.5%-1.6% in 2014 with deflation for the full year projected at 0.2%-0.3%.