Bulgaria annual CPI records 2.2% inflation in March

Image for representation

Image for representation

"The official Wholesale Price Index (WPI) for "All Commodities" for the month of March, 2018 rose by 0.2 per cent to 116.0 (provisional) from 115.8 (provisional) for the previous month", said the notification.

The Wholesale Price Index (WPI) eased gradually to 2.47% in month of March 2018 compared to growth rate of 2.48% in February 2018 and 3.02% in January 2018.

Wholesale prices climbed 2.47 percent year-over-year in March, nearly in line with February's 2.48 percent increase.

Deflation in vegetables was 2.70 per cent, pulses (20.58 per cent) and wheat (1.19 per cent) in March.

Wholesale inflation rate, measured by Wholesale Price Index (WPI), is a marker for price movements in bulk buys for traders and broadly mirrors trends in shop-end prices.

Food prices were 0.3 per cent lower compared to February and services prices shrank by 0.4 per cent, while non-food prices were down by 0.2 per cent.

The harmonised CPI figure, calculated by NSI for comparison with European Union data, recorded a decrease of 0.2 per cent on a monthly basis, while the annual harmonised CPI in March showed a 1.9 per cent increase.

However, the price of raw silk, mesta and hides, sunflower, soyabean, fodder, raw wool, coir fibre and raw rubber moved up.

Going ahead, the fuel & power which bags 13.15% of total WPI, declined by 0.1% to 98.0 (provisional) from 98.1 (provisional) for the previous month. The index for electricity group rose by 2.9 per cent to 105.4 (provisional) from 102.4 (provisional) due to higher price of electricity (3 per cent).

Retail inflation, as per data released last week, slipped to a five-month low of 4.28 per cent in March on account of decline in food prices. However, the March 2018 inflation is higher than 3.89 per cent recorded in the same month a year ago.

According to the Commerce Ministry data, the WPI inflation in March 2017 was more than double at 5.11 percent.

Two of the nine Monetary Policy Committee (MPC) members already voted to hike rates to 0.75 per cent last month, marking the first split vote since last November when rates were raised from 0.25 per cent to 0.5 per cent.

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