Bulgaria's PPI in agriculture falls 20.5% y/y in Q1

In January-March, prices of grain crops went down by an annual 30%, with soft wheat prices tumbling 30.4%, the National Statistical Institute (NSI) said in a statement. Industrial crop prices decreased by 15.9% year-on-year, following a 20.6% drop in sunflower prices.

At the same time, animal output prices fell by 2.1% year-on-year, while live animal prices grew by 3.9%. The prices of animal products slipped by 7.8% on the year on the back of a 9.9% drop in the prices of hen eggs and a 5.5% decline in sheep and goat milk prices.

The price index of goods and services in agriculture in the first quarter of this year was 6.8% lower than in the same period of 2023, the NSI said.