Lithuania Inflation

Lithuania

Lithuania: Consumer prices drop at a softer pace in October

November 10, 2015

In October, consumer prices increased 0.5% over the previous month, which was just below the 0.6% increase tallied in September. According to the statistical institute, the result was mainly driven by higher prices for hotels, cafes and restaurants and for clothing and footwear.

In annual terms, consumer prices fell 0.7% in October, which was a smaller drop than the 1.1% decrease seen in September. October’s figure marks a three-month high. Meanwhile, harmonized consumer prices (based on the Harmonized Index of Consumer Prices) dropped 0.4% year-on-year in October, coming in above September’s 0.8% decline. Annual average HICP prices dropped from minus 0.5% in September to minus 0.6% in October, the lowest figure since June 2004.

T The Central Bank expects harmonized consumer prices to fall 0.5% on average in 2015. For 2016, the Central Bank expects HICP inflation of 1.5%. FocusEconomics Consensus Forecast panelists expect harmonized inflation to fall 0.6% in 2015, which is down 0.3 percentage points from last month’s estimate. In 2016, the panel sees inflation soaring to 1.4%, which is unchanged from last month’s forecast.


Author: Jean-Philippe Pourcelot, Economist

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Lithuania Inflation October 2015

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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