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Saturday, 25 July 2009

Economic News


The monthly amount needed for the livelihood of one person in a four-member family in Bulgaria (two adults and two children) has reached BGN 481 in June.

Such household needs a minimum of BGN 1 923 per month for food, home expenses, clothes, education and leisure time to live according to the normal Bulgarian standards.

The data comes from a research of consumer prices and livelihood conducted by the Institute for Social and Trade Union Research at the Bulgarian Trade Unions KNSB.

The increase rate in June is 0,4% and reflects the slight price changes, typical for the second quarter of the year. The main reason is the seasonal price reduction of some food items, especially fresh fruits and vegetables.

The lower electric power and hot water prices that were introduced on July 1 confirm the expected summer deflation in the country.

The deflation is, however, not going to be enjoyed by Bulgarian households, the Institute experts point out, due to the reduced industrial production, lower demand and retail sales, job insecurity and narrowing job market, and large-scale freezing of salaries.

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