Bulgaria's Inflation Rate Skyrockets to 5.1%

Bulgaria's annual inflation rate accelerated to 5.1% in August from 4.4% in July, making it one of the highest rates in the European Union.

According to Eurostat's data, only three countries recorded higher annual inflation than Bulgaria: Romania at 6.3%, Lithuania at 5.6%, and Cyprus at 5.2%. In contrast, Sweden had the lowest rate at just 0.3%.

The eurozone's inflation rate rose to 3.2% in August from 2.9% in July, driven primarily by higher energy prices linked to the ongoing conflict in the Middle East.