Lithuania: Inflation declines in May to lowest level in more than four years
June 9, 2014
In May, consumer prices decreased 0.1% over the previous month, which contrasted the 0.3% rise registered in April. According to the statistical institute, the decrease was mainly driven by a drop in prices for furnishings and household equipment as well as for housing and utilities.
Annual headline inflation swung from the 0.2% increase tallied in the previous three months to a 0.1% decrease in May. May’s result marked the lowest level since March 2010. Meanwhile, annual HICP inflation (based on the harmonized index of consumer prices) ticked down from 0.4% in March to 0.3% in April, the latest month for which data are available. Annual average HICP inflation edged down from 0.7% in March to 0.6% in April, marking the lowest level since October 2004.
Author: Carl Kelly, Economist