Bulgaria bucking the inflation trend?

Inflation may be soaring across the globe but in Bulgaria, things are a little different.

According to data from the National Statistics Institute, Bulgaria experience deflation of 0.2% in June.

This seems to have been created by the 2.3% price reduction of food items and non-alcoholic beverages in June compared to May.

Prices of alcoholic beverages and tobacco products have gone up with 2.1%. The biggest price increase is registered in the area of transportation services - 3.35%.

The price of rice has gone up the most, rising a shopping 26.7%, but prices of bread and eggs have shown a reduction.

The increase of consumer prices on an annual base for the month of June is 15. 3% while since the beginning of the year (June 2008 compared to December of 2007) this increase is 4.6%.

Considering Bulgaria has one of the highest inflation rates in Europe, the slight deflation should be seen in its proper context.