Bulgaria's Inflation Rate Soars Above EU Average as KITUB Reveals Family Income Threshold

The KITUB organization in Bulgaria has released data on consumer prices and living wages for the second quarter of the year. According to their findings, a three-member family requires a net monthly income of 1491 euros to support themselves.

This figure represents a quarterly increase of 1.3% or 18 euros more than the previous quarter. On an annual basis, the necessary income has grown by 6.1%, which translates to 84 euros more for a three-member family and 48 euros more for a single worker living alone.

Lyuboslav Kostov, chief economist of the union and director of the Institute for Social and Trade Union Research and Training (ISSIO), commented on the inflation rates. He noted that Bulgaria's inflation rate is 5.2%, which is higher than the EU average of 2.9% and the eurozone average of 2.8%. Romania, however, has a higher inflation rate at 9.2%.

Kostov also pointed out that even Galab Donev, who works with a budget based on 4.2% inflation, may have underestimated the actual rate. The National Statistical Institute (NSI) has already reported nearly 7% inflation based on the latest data for the Consumer Price Index.