Harmonised Index of Consumer Prices

In a recent report by the National Statistical Institute, Bulgaria's annual inflation rate for March witnessed a notable deceleration, settling at 3% compared to the previous month's figure of 3.0%. This marks the lowest inflation rate observed in the country since July 2021, when it also stood at 3 percent.

The Harmonized Index of Consumer Prices (HICP) in Cyprus rose by 2.1% between February 2023 and February 2024, according to data published by the Statistical Service of Cyprus (CyStat) on Friday. 

Eurostat data on price trends at European level - Food inflation remains high

Cyprus' Harmonized Index of Consumer Prices accelerated slightly to 2.1% year-on-year in January, up from December's annual reading of 1.9%, the Cyprus Statistical Service said on Thursday.

The HICP in January amounted to 112.67 units from 114.09 the month before recording a monthly drop of 1.2%.

European Central Bank (ECB) Governor Christine Lagarde suggested on Wednesday that the ECB might implement interest rate cuts in the summer. Speaking at the World Economic Forum in Davos, Lagarde noted that sufficient data on wage growth would be available by "late spring," enabling central bankers to determine whether eurozone inflation is set to rise or fall.

The latest report from the National Statistical Institute sheds light on Bulgaria's inflation trends for November 2023. The month witnessed a modest 0.3% increase in inflation, while the year-on-year comparison revealed a 5.4% surge in prices from November 2022.

Annual inflation in Bulgaria slowed down in October to 5.8% from 6.3% a month earlier, according to the data of the National Statistical Institute (NSI). This is the lowest inflation in the country since September 2021.

Since the beginning of the year (October 2023 vs. October 2022), inflation is 4.1 percent.

Eurostat estimated on Tuesday that European Union-harmonized inflation rose considerably in October to reach 3.9%, which is mainly attributed to food price hikes after a few weeks of natural disasters that mainly struck central Greece.

Greece's Harmonized Index of Consumer Prices (HICP) dropped slightly in July, from 3.5% to 3.4%, preliminary data from the European Union's statistics agency Eurostat showed Thursday.

Expectations of a de-escalation in inflation, especially food prices, which concern most people, are clearly diminishing, since production costs, but also profiteering, are set to add another round of price hikes.