Lithuania Inflation August 2022


Lithuania: Harmonized inflation comes in at highest level since our records began

September 8, 2022

Harmonized inflation came in at 21.1% in August, which was up from July’s 20.9%. August's figure represented the highest inflation rate since current records began. Looking at the details of the release, prices for food and non-alcoholic beverages increased at a quicker pace in August. Meanwhile prices for transportation and recreation rose at a softer rate.

Annual average harmonized inflation rose to 14.6% in August (July: 13.2%). Meanwhile, consumer price inflation rose to 22.4% in August, from July’s 21.6%. Lastly, harmonized consumer prices rose 0.59% over the previous month in August, moderating from July's 0.76% increase. August's result marked the weakest reading since August 2021.

FocusEconomics panelists see harmonized inflation averaging 17.3% in 2022, which is up 1.3 percentage points from last month’s forecast, and 6.5% in 2023.


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Lithuania Inflation Chart

Lithuania Inflation August 2022

Note: Year-on-year and month-on-month variation of consumer price index in %.
Source: Central Statistics Bureau and FocusEconomics Consensus Forecast.

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