DEVELOPMENT AND IMPROVEMENT OF THE CONSUMER PRICE INDICES IN THE REPUBLIC OF BULGARIA IN THE PERIOD 1990 - 2018

Albena Dancheva

Abstract: Statistical observation of consumer prices in the Republic of Bulgaria started in May 1990. On this basis begun the calculation and publication of the Consumer Price Indices (CPI).<br><br>In its 28-year history, the CPI has constantly evolved and perfected. Since June 1990, when the CPI is first produced and published, a process of implementation of established international statistical standards is underway both in the construction and production of consumer price indices. This is a continuous process whose main objective is to improve the quality, timeliness and reliability of statistical information on consumer price indices.<br><br>In the period 1990-1997, a number of improvements were made in CPI calculations based on the need, in the period of transition to market economy, for consumer price statistics in order to provide adequate assessments of their dynamics, in line with international statistical practice and statistical theory.<br><br>From 1998 until the accession of Bulgaria to the European Union (EU) in 2007 NSI's efforts were aimed at harmonizing of the construction and production of consumer price indices with EU legislation. As a result of the phased harmonization process from January 2007, the NSI produces a harmonized Consumer Price Index (HICP) which fully complies with the requirements of the European regulations on consumer price indices. The National CPI has also been refined in a number of aspects, which has improved the quality of inflation measurement in the country.<br><br>Since 2007, as a member of the European Statistical System, the NSI has been involved in the development and application of a uniform methodology of statistical surveys in the field of consumer prices, which ensures quality, comparability and compatibility of the results obtained. The improvement of consumer price indices was mainly focused on the introduction of newly adopted EU regulations in the field and on improvement of the quality of the indices produced.<br>

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Date published: 2018-11-01