Lithuania Inflation


Lithuania: Consumer prices in September drop at a softer pace

October 8, 2015

In September, consumer prices grew 0.6% over the previous month, which contrasted the 0.8% drop seen in August and marked a five-month high. According to the statistical institute, the result was mainly driven by higher prices for alcoholic beverages and tobacco.

In annual terms, consumer prices fell 1.1% in September, which was a smaller drop than the 1.2% decrease seen in August. August’s figure had tallied a five-month low. Meanwhile, harmonized consumer prices (based on the harmonized index of consumer prices) fell 0.8% year-on-year in September, coming in above August’s 1.0% decline. Annual average HICP prices fell 0.5% in September, which matched August’s figure.

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 Chart

Lithuania Inflation September 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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