Lithuania Inflation


Lithuania: Annual consumer prices fall in December

January 9, 2015

In December, consumer prices decreased 0.6% over the previous month, which was down from the zero growth registered in November. The result was the largest decrease in consumer prices since July 2013. According to the statistical institute, the result was driven by lower prices for fuels and lubricants, as well for footwear.

Consumer prices ended 2014 falling 0.3% over the same month the previous year, which notably contrasted 2013’s 0.4% increase. Meanwhile, annual HICP inflation (based on the harmonized index of consumer prices) rose from 0.3% in October to a 0.4% in November, the latest month for which data are available. Annual average HICP inflation mirrored October’s 0.3% in November.

The Central Bank expects HICP inflation to average 1.2% in 2015. FocusEconomics Consensus Forecast panelists expect harmonized inflation to average 1.3% in 2015, which is unchanged from last month’s estimate. In 2016, the panel sees inflation at 2.0%.

Author: Angela Bouzanis, Senior Economist

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Lithuania Inflation Chart

Lithuania Inflation December 2014

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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