Lithuania Inflation

Lithuania

Lithuania: Consumer prices register largest drop in 12 years

March 9, 2015

In February, consumer prices decreased 0.3% over the previous month, which was up from the 1.3% decrease registered in January. The result represented the largest decrease in three months. According to the statistical institute, the result was driven by lower prices for foodstuff, fuel and clothing.

In annual terms, consumer prices fell 1.8%, which followed January’s 1.5% drop and represented the largest decrease since February 2003. Meanwhile, harmonized consumer prices (based on the harmonized index of consumer prices) fell 1.4% in January, which is the last month for which data are available, coming in further below December’s 0.1% decline. Annual average HICP inflation inched down from December’s 0.2% to 0.1% in January.

The Central Bank expects HICP inflation to average 1.2% in 2015. FocusEconomics Consensus Forecast panelists expect harmonized inflation to average 1.0% in 2015, which is down 0.2 percentage points from last month’s estimate. In 2016, the panel sees inflation at 1.8%.


Author: Teresa Kersting, Economist

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Lithuania Inflation Chart


Lithuania Inflation February 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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