Bulgaria's Jan Producer Prices Rise 2.4% M/M, Up 4.8% Y/Y

Bulgaria's Jan Producer Prices Rise 2.4% M/M, Up 4.8% Y/Y

Bulgaria's January producer prices rose by 2.4% month-on-month after edging down by 0.6% in December, the National Statistics Institute said on Wednesday.

Higher prices were registered in the mining and quarrying industry, by 2.5%, in the manufacturing, by 2.6%, and in the electricity, gas, steam and air conditioning supply sector where they grew by 1.5%.

In the manufacturing, the most significant increase was seen in the manufacture of basic metals by where prices rose by 7.2% on the month.

On an annual basis, producer prices in January were 4.8% higher, following an annual growth by 4.0% in the previous month.

In the manufacturing, the prices rose by 5.0% compared to January last year. More significant increase was observed in the sector for repair and installation of machinery and equipment where prices went up by 7.3%.

The index tracks changes in producer prices on the domestic market plus producer prices of Bulgarian products sold abroad. Economists see changes in producer prices as a key indicator of trends in consumer price inflation.

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