Lithuania Inflation


Lithuania: Drop in consumer prices softens in May

June 25, 2015

In May, consumer prices increased 0.5% over the previous month, coming in below the 0.7% increase registered in April. According to the statistical institute, the result was mainly driven by higher prices for vegetables, clothing and footwear.

In annual terms, consumer prices fell 0.5% in May, which followed April’s steeper 1.0% drop. Meanwhile, harmonized consumer prices (based on the harmonized index of consumer prices) fell 0.1% year-on-year in May, coming in above April’s 0.6% decline. Annual average HICP prices fell 0.3% in May, coming in below April’s 0.2% drop and representing the steepest decline 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 May 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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