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The increased electricity and natural gas prices have made the life of Bulgarians tangibly more expensive. In July inflation reached 3.1% on an annual basis, and 1.5% on a monthly basis, according to the National Statistics Institute.

This is the highest annual inflation for the past four years and monthly inflation was 1.5% for the last time in October 2008.

These rates are much higher than those typical for the summer. In June there was even deflation on a monthly basis, and annual inflation was twice as small – only 1.6%.

High rates of inflation mean people are getting poorer if household incomes remain unchanged or if they grow at a slower pace than prices.

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About the Author

Horizons is a leading recruitment company specializing in expert and middle management positions with 14 years of experience on the Bulgarian market. Our team consists of business oriented consultants with industrial specialization, professional understanding of the business trends and a pro-active approach towards recruiting and hiring through different methodologies and innovations. Horizons owns license №2118 from 27.09.2016.