Lithuania Inflation July 2016

Lithuania

Lithuania: Inflation decelerates to seven-month low in July

August 8, 2016

Consumer prices fell 0.7% over the previous month in July, which contrasted June’s 0.1% increase. According to the Statistical Institute, the figure mainly reflected a decrease in prices for clothing and footwear as well as for housing, water, electricity, gas and other fuels. The drop in prices was partially offset by an increase in prices for transport, alcoholic beverages and tobacco products.

Inflation came in at a seven-month low of 0.5% in July following June’s 0.7%. Harmonized inflation (based on the Harmonized Index of Consumer Prices) was flat in July, which was down from June’s 0.4%. Similarly, annual average HICP inflation was flat in July, as it was in June.

For 2016, the Central Bank expects HICP inflation to average 0.9%. FocusEconomics Consensus Forecast panelists expect harmonized inflation to reach 0.9% in 2016, which is unchanged from last month’s estimate. In 2017, the panel sees inflation accelerating to 1.8%.


Author:, Economist

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