“Bulgarian Inflation Falls for Seventh Month in a Row, Expected to Drop Below 10 Percent”

Inflation has been falling for the seventh month in a row and is now 11.6%. And we will probably drop below 10 percent.

This was stated by the Minister of Economy Nikola Stoyanov to Nova TV.

Already in the fall, we got energy prices under control and now they are at levels from 2021. This gives every reason for food prices to fall as well. And at retail they are not rising at the moment, he also stated. According to Stoyanov, in March Bulgaria is the only country in Europe where the price of oil decreased. He also expressed his satisfaction that the inspections found fewer and fewer violations in the stores, which showed that businesses are also starting to follow the rules strictly.

However, according to Stoyanov, it was strange that wholesale prices fell, but not retail prices. There is no logic in these prices in Bulgaria at the moment, he emphasized. According to the minister, the merchants’ excuses were strange. First they justified themselves with the increase in energy and fuel prices, and now with the need to raise wages. However, this was not logical, claims Stoyanov.

According to him, the inflation wedge between Bulgaria and the EU is closing and there is no longer any way to import it from the outside.