Lithuania Inflation


Lithuania: Consumer prices in July drop at June's rate

August 10, 2015

In July, consumer prices dropped 0.5% over the previous month, which came in below the 0.1% decrease seen in June and marked a six-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 0.5% in July, which matched June’s decrease. Meanwhile, harmonized consumer prices (based on the harmonized index of consumer prices) fell 0.2% year-on-year in June (the latest period for which data are available), coming in slightly below May’s 0.1% decline. Annual average HICP prices fell 0.3% in June, mirroring the previous month’s drop and thus remaining at the lowest level since July 2004.

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 1.4%.

Author: Teresa Kersting, Economist

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Lithuania Inflation Chart

Lithuania Inflation July 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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