The annual inflation rate in Bulgaria picked up to 3.8 percent in December 2019, its highest level since January 2013, from 3.0 percent in the prior month. Main upward pressure came from prices of food & non-alcoholic beverages (7 percent vs 6 percent in November); transport (3.4 percent vs -0.5 percent); recreation & culture (6.4 percent vs 3.4 percent) and restaurants & hotels (5.6 percent vs 5.3 percent). Meanwhile, cost slowed for housing & utilities (2.4 percent vs 2.6 percent) and miscellaneous goods & services (0.9 percent vs 1.1 percent). On a monthly basis, consumer prices went up 0.7 percent, after increasing 0.5 percent in the previous month. Inflation Rate in Bulgaria averaged 62.07 percent from 1996 until 2019, reaching an all time high of 2019.50 percent in March of 1997 and a record low of -2.60 percent in February of 2014.
Inflation Rate in Bulgaria is expected to be 2.20 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Inflation Rate in Bulgaria to stand at 1.40 in 12 months time. In the long-term, the Bulgaria Inflation Rate is projected to trend around 2.20 percent in 2020, according to our econometric models.