Bulgaria Registers 4.5% Inflation y/y January 2011

Bulgaria's year on year January inflation has been 4.5%, according to the National Statistical Institute's preliminary data.

The inflation in Bulgaria has grown with 0.6% in comparison with December 2010, shows the consumer price index, the country's official measure of inflation. The annual average inflation, measured by this index, in the last 12 months (February 2010 - January 2011) compared to the previous 12 months (February 2009 - January 2010) has been 2.8%.

The harmonized index of consumer prices, which is the comparable measure of inflation across EU member states, shows that the inflation in January has been 4.3% in January 2011 compared to January 2010, while the monthly inflation has been 0.5%.

According to a recent report by the Bulgarian Center for Economic Development, the consumer prices in Bulgaria in 2011 will still be dictated by the cautious final consumption. Since there are no significant increases in store for the internationally and the administratively regulated prices, the inflation for 2011 is expected to be around 3%.