The price of goods and services in Bulgaria continues to rise. Annual inflation rose to 4.8% in September. You would have to go back nine years - to September 2012 - to find such a high inflation rate. The government has said that it will announce concrete measures in the wake of the energy price spike on Wednesday.
Today, however, a new historical record was set for the Bulgarian Independent Energy Exchange - 445.65 levs / mWh.
Gov't to announce concrete measures to tackle energy price spike
On Wednesday the caretaker government will present measures in response to electricity price rises, said prime minister Stefan Yanev after discussion with President Rumen Radev. "We want to protect Bulgarian business, consumers, and those who produce goods and services," added Yanev. "All these measures which we have discussed now have to be upgraded," he added. The Prime Minister clarified that these are short-term measures. He did not want to expand on the specifics to be unveiled, but said it was a matter of deepening measures already announced.
Bulgaria annual inflation roses to 4.8% in September
Cpi inflation accelerated to 4.8% y/y in September, up from 3.7% y/y in August, according to data published by National Statistical Institute (NSI). The inflation rate since the beginning of the year has been 3.5% and the monthly inflation was 0.4% - the CPI in September 2021 compared to August 2021 was 100.4%, says NSI in a statement.
The prices of goods and non-alcoholic beverages increased by 1.2% in September compared to the previous month. The increase is 0.4% for alcoholic beverages and tobacco. And for housing, water, electricity, gas and other fuels it is 1.2%.
Bulgaria announced a new auction of T-bonds for 500 million levs
The government will try to sell a new portion of T-bonds for 500 million levs (250 mln euro) on the domestic market after it successfully debuted 5-year zero interest securities for the same value two weeks ago. The 10-year bonds will be offered at the auction next Monday as 300 million levs of them were placed in September with a 0.2% yield. If the issue is successful, Bulgaria will accumulate 2.3 billion levs of new gross debt from the beginning of the year, reported Capital Daily.