December 12 (SeeNews) - Bulgaria's consumer prices rose by a preliminary 1.6% month-on-month in November, after rising by 0.6% in October, the National Statistics Institute (NSI) said on Wednesday.
Year-on-year, November consumer price inflation accelerated to 12.6% from 12.4% in October, the NSI said.
Bulgaria consumer prices (pct change):
|
|
Nov'07 |
Oct'07 |
Nov'06 |
| M/M |
+1.6 |
+0.6 |
-0.3 |
| Y/Y |
+12.6 |
+12.4 |
+10.5 |
The government expects end-year inflation to reach 9.3% in 2007 and slow down to 4.5% in 2008. Inflation has so far been fueled mainly by rising food prices, as drought and floods damaged crops in Bulgaria earlier in the year.
Bulgaria, which joined the EU in January, aims to enter the eurozone early next decade and the country's high inflation is seen as a major obstacle to adopting the euro.