Consumer confidence in Bulgaria fell by 6.9 points in October from July, the National Statistical Institute (NSI) said. It dropped in both cities and villages.

More people think prices rose over the past 12 months, with the balance indicator up 6.6 points. But they expect inflation to be lower next year.

The overall confidence indicator stands at 25.7% and 32.6%. Confidence fell by 5.3 points in cities and by 11 points in villages.

People are also more pessimistic about the economy. Their assessment of the past 12 months fell by 10.9 points, and their expectations for the next 12 months fell by 12.1 points.

Households rate their own finances, and their outlook for them, more negatively than in July.

Most people think now is not a good time to save. They are also negative about buying durable goods and about home improvements over the next year.

People expect some job cuts over the next 12 months. In cities, they think the cuts will come faster.

The NSI explains that it asks the questions about purchases every three months, and that people make such purchases over longer periods. So, the statisticians say, it is normal for the balance of opinion on purchases to stay negative. For the analysis, what matters is the direction the balances move in, because it shows whether sentiment is improving or getting worse.