Financial and business news from Bulgaria

Prices of basic foodstuffs rise

A serious increase in the prices of basic foods takes into account national statistics. The highest appreciation is in bread and oil, and household spending on the most needed goods has risen by 2% in a year.
“Nearly a month and more oil has been lifted. Bread has been raised for more than two months. About gasoline not to mention how it's appreciated,” users said.

Economists confirm there is a growth in food prices, and this is mostly heavy on people with low incomes.

"If we look at the small consumer baskets - bread prices, cereal prices, there is a tangible jump and this jump is for another year. You know that bread is an inferior commodity, and no matter how much its value increases, demand is one and so. People are weaving bread”, Lyuoslav Kostov, economic expert of KNSB.

He added that goods growing in the small consumer basket mostly reduce the purchasing power of people with low incomes.

In the last year, a higher appreciation of 4.6 per cent has been in education. And in financial services, where bank charges come in, there is a tariff hike of over 25% per year.

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Administrator • 2020-03-14 13:30:20