Lithuania Inflation August 2016

Lithuania

Lithuania: Consumer prices decline at softer pace in August

September 8, 2016

Consumer prices fell 0.5% over the previous month in August, which was slightly above July’s 0.7% drop. According to the Statistical Institute, the figure reflected a decrease in prices for multiple categories, with food and non-alcoholic beverages, transport and retail goods recording the largest declines.

Inflation came in at a four-month high of 0.8% in August following July’s 0.5%. Harmonized inflation (based on the Harmonized Index of Consumer Prices) came in at 0.5% in August, which was considerably above July’s flat reading. In addition, annual average HICP inflation increased from a flat reading in July to 0.1% in August.

For 2016, the Central Bank expects HICP inflation to average 0.9%. FocusEconomics Consensus Forecast panelists expect harmonized inflation to reach 0.9% in 2016, which is unchanged from last month’s estimate. In 2017, the panel sees inflation accelerating to 1.7%.


Author:, Economist

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