Lithuania Inflation

Lithuania

Lithuania: Consumer prices in August drop at steepest rate in five months

September 9, 2015

In August, consumer prices dropped 0.8% over the previous month, which came in below the 0.5% decrease seen in July and marked a seven-month low. According to the statistical institute, the result was mainly driven by lower prices for clothing and footwear.

In annual terms, consumer prices fell 1.2% in August, which marked a larger drop than the 0.5% decrease seen in July. Moreover, August’s figure tallied a five-month low. Meanwhile, harmonized consumer prices (based on the harmonized index of consumer prices) fell 1.0% year-on-year in August, coming in below July’s 0.2% decline. Annual average HICP prices fell 0.5% in August, which was also down from the 0.4% drop seen in July.

The Central Bank expects harmonized consumer prices to fall 0.3% on average in 2015. For 2016, the Central Bank expects HICP inflation of 1.6%. FocusEconomics Consensus Forecast panelists expect harmonized inflation to average 0.1% in 2015, which is down 0.1 percentage points from last month’s estimate. In 2016, the panel sees inflation at 1.3%.


Author: Teresa Kersting, Economist

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Lithuania Inflation August 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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