Russia is going to be hurt by this in the long run. Inflation came in at 7.5% in September, matching August's figure, which had marked the highest inflation rate since June 2008. The average annual inflation will reach 10.4% this year, according to the spring macroeconomic forecast of the Ministry of Finance. Read more Bulgaria: Industrial output growth slows in July September 9, 2022 Industrial output increased 15.7% year on year in July (June: +17.7% yoy). Online Store Bulgaria inflation rate for 2018 was 2.81%, a 0.75% increase from 2017. Bulgaria inflation rate for 2019 was 3.10%, a 0.29% increase from 2018. Tags: economic, growth, 2022, Bulgaria, inflation, Bulgaria news This year the rise in prices will reduce the disposable income of households to a much greater extent than in 2021. Twitter Hiro Komae - staff, AP. May 18, 2022 This statistic shows the average inflation rate in Hungary from 1987 to 2021, with projections up until 2027. This site is managed by the Directorate-General for Economic and Financial Affairs, Follow the European Commission on social media. The result was largely due to rising prices for food and non-alcoholic beverages. In its autumn 2021 outlook, the IMF had forecast the Bulgarian economy to grow by 4.4% in 2022. Bulgaria Jump to Projects & Operations Finances Surveys Human Capital Index Global Economic Prospects - Forecasts Climate Overview By Theme By SDG Goal Topic Social Economic Environment Institutions Social Indicator Most recent value Trend Poverty headcount ratio at $2.15 a day (2017 PPP) (% of population) US labour market remains strong, although signs of weakness are starting to appear. The expected higher inflation in 2022 will not lead to a significant increase in wages, according to a new analysis by UniCredit Bulbank. Home > Countries > Bulgaria > Producer Prices. But the Fed's fight against inflation received a big boost from an Institute for . We have provided a few examples below that you can copy and paste to your site: Your data export is now complete. All this indicates that the process of recovery in the labor market is slower inBulgariathan in most CEE countries, and this has a positive side, as what is happening in the labor market is not among the factors contributing to the increase ofinflationat the moment. It was the highest reading since May of 1998, as prices advanced faster for food & non-alcoholic beverages (24.1 percent vs. 23.8 percent in July) and housing & utilities (26.8 percent vs. 18.5 percent). About According to a study from Yale, foreign companies accounted for 40% of Russia's GDP. Bulgaria's inflation rose by 6.6% y-o-y, which was the highest rate of increase in over a decade. higher in 2022 and 0.8 pps. Macroeconomic forecast to the Draft Law for Amendments of the 2022 State Budget Act. pdf / 671.37 KB. Consumer Price Index in Bulgaria increased to 8809 index points in September 2022. In 2023, HICP inflation is expected to settle at 6.8%. Despite the emergence of the new variant Omicron, the prospects are for vaccines to remain effective and for the percentage of the vaccinated population to increase, although most likely leaving below the required values to achieve group immunity. This is the forecast made by the Bulgarian National Bank, BNR, for the latest issue of Economic Review. Thank you! Meanwhile, consumer prices rose 0.66% in September over the previous month, following the 0.57% increase logged in August. In October, the European Commission proposed new regulation to cap energy prices and . Despite lower consumption levels, economists at UniCredit Bulbank expect an increase in investment growth, driven mainly by larger projects in the public sector. Jun 24, 2022 This statistic shows the average inflation rate in Bulgaria from 1987 to 2021, with projections up until 2027. The Laspeyres formula is generally used. Compared to the Spring Forecast, the real GDP growth rate is 0.7 pps. This year the rise in prices will reduce the disposable income of households to a much greater extent than in 2021. Economic forecasts for inflation are based on the assumption that electricity and heat prices for households will rise by 15% in April 2022. Its growth is projected to reach 6% on average for the whole of 2022, with the main reasons continuing to be related to high energy prices, supply chain disruptions, and base effects. Foreign media analysis on Bulgaria and World News in Brief are also part of the web site and the online newspaper. Bulgaria's economy is then seen growing by 4.4% in 2022, the IMF said in its latest World Economic Outlook (WEO) report. FocusEconomics panelists project inflation to average 14.8% in 2022, which is up 1.1 percentage points from last months forecast, and 8.5% in 2023. Finally, harmonized inflation rose to 10.5% in March, from February's 8.4%. Updated autumn macroeconomic forecast . Annual average inflation rose to 6.0% in March (February: 5.0%). TOKYO (AP) Asian stocks were mixed Tuesday ahead of the U.S. midterm elections with trading likely to stay bumpy in a week that brings new inflation data and other . Last update : Summer 2022 Economic Forecast (14/07/2022). Inflation came in at 18.7% in September, up from Augusts 17.7%. My Cart Growth deceleration is forecast to start in the second half of 2022 and continue in 2023, in . Private consumption growth was supported by favourable labour market conditions and the sharp increase in wages in the private sector in the beginning of the year. They expect public investment in support of the green transition and digitalization, funded by the EU's Next Generation mechanism, to stimulate potential growth, with the necessary reforms. The annual inflation rate in Bulgaria accelerated to 17.7 percent in August of 2022, from 17.3 percent in the prior month. The annual inflation rate in Bulgaria accelerated to 17.7 percent in August of 2022, from 17.3 percent in the prior month. SOFIA (Bulgaria), April 6 (SeeNews) - The International Monetary Fund (IMF) said on Tuesday that it expects Bulgaria's gross domestic product (GDP) to rise by 4.4% in 2021, revising its October 2020 forecast for 4.1% growth. Inflation will remain high in the short term due to soaring energy and food prices, supply shortages and effects from the reopening of the economy. The upward revision in 2022 reflects mainly the strong recovery in the first quarter of this year. Economists expect these factors to have a temporary effect in 2023,inflationto fall to 3% on average for the year, andeconomicgrowthto accelerate to 4.3%, with unemployment falling to levels corresponding to full employment. UK economic and inflation outlook remains uncertain although the political backdrop is less volatile. In addition, price pressures for housing, water, electricity, gas and other fuels rose at a faster rate. Bulgaria: 7.8% annual inflation in December Economic forecasts for inflation are based on the assumption that electricity and heat prices for households will rise by 15% in April 2022. Macroeconomic Forecast 2021 used in preparing the State budget law for 2022 and the updated Medium-term budget forecast for 2022-2024. pdf / 681.62 KB. Similar to regional peers, Bulgaria's CPI inflation sped up notably in 2022, with 12-month inflation reaching 17.7 percent in August 2022 - an inflation rate not seen since 1998 when Bulgaria was emerging from a brief hyperinflationary period. Backlinks from other websites and blogs are the lifeblood of our site and are our primary source of new traffic. Export of goods and services are forecast to expand in 2022, due to both goods exports and tourism. Itsgrowthis projected to reach 6% on average for the whole of2022, with the main reasons continuing to be related to high energy prices, supply chain disruptions, and base effects. The expected higherinflationin2022will not lead to a significant increase in wages, according to a new analysis by UniCredit Bulbank. Annual average inflation rose to 6.0% in March (February: 5.0%). Overall, real GDP is expected to grow by 2.8% in 2022 and 2.3% in 2023. Inflation of 108.77 percent was recorded in the largest Turkish city Istanbul in October on an annual basis, reported the Turkish private television NTV, quoted by "24 Chasa". Economic forecasts for inflation are based on the assumption that electricity and heat prices for households will rise by 15% in April 2022. For 2021, an inflation rate of 3.3% was calculated. 5 years of economic forecasts for more than 30 economic indicators. Finally, consumer prices rose 1.23% over the previous month in September, accelerating from August's 1.17% rise. Once again, it's the economy, stupid. Twitter Bulgaria Forecast - was last updated on Tuesday, November 8, 2022. Client Log In, Facebook Calendar Forecast At the same time, the BNB significantly raised its forecast for inflation until the end of the year to 14.7%, compared to the expected 9.6% in March. Mc-site.info Consensus Forecast panelists project inflation to average 8.0% in 2022, which is up 2.3 percentage points from last month's forecast. Please check your download folder. Core inflation which excludes food and energy has been running over 2.5% below the all-items rate which is still high by historical standards. Last update : Summer 2022 Economic Forecast (14/07/2022) Overall, real GDP is expected to grow by 2.8% in 2022 and 2.3% in 2023. Please check your download folder. Health care increases could also extend beyond the present-day inflation wave with higher insurance premiums, drug costs and prolonged labor challenges. lower in 2023. The government's main. Economic growth is forecast to remain strong in Bulgaria in 2022 and 2023, despite the accelerated inflation. For 2023, panelists project inflation to average 3.4%. Historical Data (index points) by years Data Period Date Historical Chart by presidents (index points) Rumen Radev The S&P 500 rose 21.31, or 0.6%, to 3,828.11, though it flipped between . Bulgaria's UniCredit Bulbank said it has further lowered, to 1.4%, its projection for the country's gross domestic product (GDP) real growth in 2022 and more than doubled its inflation forecast, due to rising commodity and food prices as well as potential supply-chain disruptions resulting from the ongoing war in Ukraine. Compared to the Spring Forecast, the real GDP growth rate is 0.7 pps. 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