Bulgaria: Manufactured Goods Shot up 18% in August

In August 2021, production prices in Bulgaria increased by 3% compared to the previous month and recorded a record growth on an annual basis of nearly 18% as a result of a sharp jump in energy prices, according to data from the National Statistical Institute, quoted by BNR. They are also evidence of a continued rise in inflation in the coming months.

The general producer price index in Bulgaria (PPI index) increased in August by 3.0% compared to the previous month. The most drastic increase of 12.7% was registered in the production and distribution of electricity, and the manufacturing industry by only 0.4%, while in the mining and quarrying industry there was a price decrease of 7.4 percent.

On an annual basis, the overall producer price index in the country marked a record growth of 17.9 percent.

A significant increase in prices by 31.3% compared to August 2020 was registered in the production and distribution of electricity and heat, in the mining and quarrying industry – by 14.1% and in the manufacturing industry – by 13.9 per cent.

More significant growth was reported in the production of basic metals – by 44.4%, the production of chemical products – by 16.7%, the production of wood and wood products, without furniture – by 15.4%. A decrease in prices was observed in the manufacture of textiles and textile products, except apparel – by 1.1%.

The producer price index only on the domestic market in Bulgaria increased in August by 4.2% on a monthly basis and by 17.2% compared to a year earlier (August 2020).

The producer price index on the international market increased by 1.2% compared to the previous month and by 19.0% compared to the corresponding month of 2020.

Earlier this month, the NSI released a report reporting an increase in consumer inflation in August by 0.8% per month and by 3.7% on an annual basis.

/ClubZ