Bulgaria is the only country in the EU where oil has become cheaper

Published 2023년 5월 10일

Tridge summary

In March 2023, almost all EU countries experienced an increase in annual inflation for oil and fats, except for Bulgaria, where prices for these products decreased by 1%. Sunflower oil specifically was 11% cheaper in March 2023 compared to the previous year. However, prices for flour and oil saw significant increases, with oil experiencing a peak in prices due to the war in Ukraine. Bulgaria, as the second largest producer of sunflower in the EU, saw a substantial increase in sunflower oil exports in 2022. The highest increase in annual inflation for oils and fats was recorded in Hungary, followed by Denmark and Belgium, while the smallest price increase was registered in Croatia, Austria, and the Czech Republic. The rate of inflation for oils and fats in the EU began to slow down in the first three months of 2023, with a decrease of 9 percentage points compared to the peak in December 2022.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

In March 2023, almost all EU countries reported an increase in annual inflation for oil and fats (olive oil, butter, margarine). The only exception is Bulgaria. According to the European Statistical Service, in March of this year, a drop in the prices of these products was reported in our country (by 1%). "For the whole category of fats, the price index shows a decrease of 0.8%, mainly due to still high oil prices. If we look at sunflower oil alone, it is 11% cheaper in March 2023 compared to March 2022. ", writes the economist Lachezar Bogdanov. According to his observations, oil continues to fall in price in April and the first days of May, and his prediction is that even more declines are to come. Flour rose in price by over 40%, and oil - by 21%. Here's how prices changed in just one week A day ago, the Minister of Economy, Cornelia Ninova, announced that there were violations in the pricing of oil And what are the prices? According to the data of the State Commission on ...

Source: Money