Fuel Prices Are Main Driver of Inflation, Statistical Institute President Says

Leave a Comment / Agriculture, All articles, Economy, Industry / By България Новините

Speaking on Nova TV on Sunday, National Statistical Institute (NSI) President Atanas Atanasov said Bulgaria’s annual inflation rate, according to the preliminary estimate for October, stands at 6.1%, describing this as a high level. As in other eurozone countries, rising fuel prices are the main driver of inflation, he added.
Inflation is high in many eurozone countries. Apart from Lithuania, countries such as France and Greece have inflation rates above 5%, close to Bulgaria’s level. Across all eurozone countries, fuel prices are the main contributing factor, Atanasov said.
He also noted that the NSI monitors the prices of just over 860 different goods and services, which have generally recorded increases. Some categories have seen more substantial price rises, the head of the NSI said, citing transport as an example, where prices have increased by nearly 30%.
Food prices, in particular, are subject to what is known as seasonality. This means that, at different times of the year, the prices of certain fruits, vegetables and other food products fall, while during other periods they rise, he said.
Commenting on price differences, Atanasov said that in every country there are goods and services that are cheaper than in others. Depending on the products considered, some items may be cheaper in Bulgaria than in Greece, or vice versa. There are always market anomalies, he noted, adding that these occur when markets are insufficiently regulated and do not operate efficiently.
Prices across the European Union tend to converge because of the single market. “We are clearly highly dependent on energy sources, so developments in this area have a direct impact on us. Despite the substantial increase in fuel prices over the past year, they have stabilized at a high level over the past month. At least they have stopped rising,” Atanasov added.
He forecast that Bulgaria should not expect a significant increase in inflation next year.
The NSI’s flash estimate, published on November 3, showed that Bulgaria’s annual inflation rate, measured using the Consumer Price Index (CPI) methodology, accelerated to 6.1% in October, up from 5.7% in September. According to Eurostat’s Harmonised Index of Consumer Prices (HICP), Bulgaria’s annual inflation rate reached 6% in October, while inflation in the eurozone rose to 4%.

Fuel Prices Are Main Driver of Inflation, Statistical Institute President Says THE NEWS FROM BULGARIA – NEWS AGENCY 2009-2025 2026-11-08 00:53:28

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