Lithuania Inflation February 2016

Lithuania

Lithuania:

January 1, 1970

In February, consumer prices matched the 0.3% monthly drop tallied in the previous month. According to the statistical institute, the result was driven by a sharp decline in 7 of the 12 components of the index, with the clothing and footwear and transport components tallying the biggest declines.

Inflation came in at 0.9% in February, which matched January’s reading. February’s print marked the highest reading since June 2013. Meanwhile, harmonized consumer prices (based on the Harmonized Index of Consumer Prices) increased 0.5% in February, coming in below January’s 0.7% figure. Lastly, annual average HICP prices fell 0.3% in February (January: -0.5% year-on-year).

For 2016, the Central Bank expects HICP inflation to average 1.4%. FocusEconomics Consensus Forecast panelists expect harmonized inflation to increase to 1.1% in 2016, which is down 0.1 percentage points from last month’s estimate. In 2017, the panel sees inflation accelerating to 2.0%.


Author: Jean-Philippe Pourcelot, Economist

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Lithuania Inflation February 2016

Note: Year-on-year variation and month-on-month variation of consumer price index in %.
Source: Statistics Lithuania and FocusEconomics calculations.


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