Lithuania Inflation


Lithuania: Drop in consumer prices softens in March

April 10, 2015

In March, consumer prices increased 0.8% over the previous month, contrasting the 0.3% decline registered in February. The result represented the largest increase since March 2012. According to the statistical institute, the result was driven by lower prices for foodstuff, fuel, and clothing.

In annual terms, consumer prices fell 1.4%, which followed February’s steep 1.8% drop. Meanwhile, harmonized consumer prices (based on the harmonized index of consumer prices) fell 1.1% in March, coming in above February’s 1.5% decline. Annual average HICP prices fell 0.2% in March, coming in below February’s flat reading and representing the steepest drop since August 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 0.3% in 2015, which is down 0.4 percentage points from last month’s estimate. In 2016, the panel sees inflation at 1.5%.

Author: Teresa Kersting, Economist

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Lithuania Inflation Chart

Lithuania Inflation March 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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