Lithuania: Harmonized inflation drops in October

Harmonized inflation came in at 22.1% in October, down from September’s 22.5%. Looking at the details of the release, prices for food and non-alcoholic beverages increased at a quicker rate in October, although prices for transportation grew at a slower rate.

Annual average harmonized inflation rose to 17.1% in October (September: 15.9%). Meanwhile, consumer price inflation fell to 23.6% in October, from the previous month's 24.1%.

Lastly, harmonized consumer prices increased 1.33% from the previous month in October, coming in below the 2.89% increase logged in September.

Our analysts project harmonized inflation to average 8.3% in 2023, which is up 0.9 percentage points from last month’s forecast, and 2.6% in 2024.