Lithuania Inflation

Lithuania

Lithuania: Consumer prices register largest drop in almost 12 years

February 17, 2015

In January, consumer prices decreased 1.3% over the previous month, which was down from the 0.6% decrease registered in December. The result represented the largest decrease on record. According to the statistical institute, the result was driven by lower prices for fuels and lubricants, clothing, footwear and electricity.

In annual terms, consumer prices fell 1.5%, which followed December’s 0.3% 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, coming in further below December’s 0.1% decline. Annual average HICP inflation inched down from December’s 0.2% to 0.1% in November.

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 January 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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