Bulgaria 12-month inflation falls to 2.7% in March

Bulgaria's 12-month inflation rate continued its downward trend in March, dropping to 2.7 percent from 3.6 percent in February on falling food and utility prices, official data showed Friday.

On a month-on-month basis, the consumer price index (CPI) in the non-eurozone EU member registered 0.5 percent deflation in March after notching up 0.1-percent inflation the previous month.

Using the European Union's harmonised index of consumer prices (HICP), the European Central Bank's inflation yardstick, 12-month inflation was 1.6 percent, down from 2.2 percent in February.

Inflation in Bulgaria averaged 3.0 percent in 2012, just below the government's target of 3.2 percent and is expected to be around 3.4 percent this year.