According to the National Statistical Institute's flash estimates, in the second quarter of 2022, Gross Domestic Product (GDP) grew by 4.8% year-on-year, the regular monthly review of the Bulgarian economy by the Ministry of Finance said on Monday. The growth was driven by strong final consumption, which rose by 5.3%. Exports and imports recorded increases of 11.8% and 18% respectively, while fixed capital investment fell by 7.3% year-on-year.
The annual rate of inflation in July recorded a slight acceleration of 0.1 percentage points to 14.9%. Food and energy commodities together accounted for almost 70% of the increase in the headline index, with their prices registering increases of 23.9% and 34.1% respectively from a year earlier. Underlying inflation also accelerated to 11.5% due to the observed second-round effects of price increases in the two groups of goods already mentioned, as well as strong household consumption.
Labour income in the country grew at a double-digit rate in the second quarter of 2022. The economy's overall average wage rose by a nominal 13.4% year-over-year.
/RY/
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