Lithuania Inflation July 2022

Lithuania

Lithuania: Inflation comes in at highest level since September 1996 in July

August 8, 2022

Consumer prices increased 1.24% from the previous month in July, below June's 2.32% rise. July's result marked the weakest reading since December 2021. The slowdown was largely due to a softer rise in prices for food and non-alcoholic beverages. In addition, price pressures for transportation declined at a faster rate, while prices for alcoholic beverages and tobacco grew at a more subdued pace.



Inflation came in at 21.6% in July, which was up from June’s 21.0%. July's figure marked the highest inflation rate since September 1996. Annual average inflation rose to 13.4% in July (June: 12.0%). Finally, harmonized inflation rose to 20.9% in July, from the previous month's 20.5%.

FocusEconomics panelists see harmonized inflation averaging 16.0% in 2022, which is up 1.3 percentage points from last month’s forecast, and 5.6% in 2023.


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Lithuania Inflation July 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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