Lithuania Inflation

Lithuania

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.

The Central Bank expects HICP inflation to average 0.9% in 2014 and 1.5% in 2015. FocusEconomics Consensus Forecast panelists expect harmonized inflation to average 1.2% in 2014, which is down 0.2 percentage points from last month’s estimate. Next year, the panel sees inflation at 2.3%.


Author:, Economist

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Lithuania Inflation May 2014

Note: Year-on-year variation and month-on-month variation of consumer price index in %.
Source: Statistics Lithuania and FocusEconomics calculations.


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