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Lithuania Inflation May 2023

Lithuania: Harmonized inflation falls to over one-year low in May

Harmonized inflation came in at 10.7% in May, which was down from April’s 13.3%. May’s result marked the weakest inflation rate since December 2021. The decline was broad-based, with reduced price pressures recorded for food and non-alcoholic beverages, transportation, and housing and utilities. Moreover, prices for recreation grew at a more subdued pace.

Annual average harmonized inflation fell to 18.4% in May (April: 19.2%). Meanwhile, consumer price inflation fell to 11.7% in May, from the previous month’s 14.5%.

Lastly, harmonized consumer prices dropped 0.12% in May over the previous month, swinging from April’s 0.20% rise. May’s result marked the weakest reading since November 2020.

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