Lithuania Inflation May 2017


Lithuania: Inflation dips in May

June 8, 2017

Consumer prices in Lithuania dropped 0.2% in May from the previous month, contrasting the 1.0% increase observed in April. According to the Statistical Institute, the figure mostly reflected lower prices for vegetables, fuels and lubricants, heat energy, other appliances, articles and products for personal care, which more than offset higher prices for fruit, footwear, package holidays, spirits and clothing.

Inflation came in at 3.4% in May. This was below April’s 3.6%, which had marked the highest reading in over five years. Meanwhile, harmonized inflation (based on the Harmonized Index of Consumer Prices) came in at 3.2% in May, down from April’s 3.5%. Annual average HICP inflation rose from 1.5% in April to an almost four-year high of 1.7% in May.

FocusEconomics Consensus Forecast panelists expect harmonized inflation to reach 1.6% in 2017, which is down 0.1 percentage points from last month’s estimate. In 2018, the panel sees inflation accelerating to 2.2%.

Author: Massimo Bassetti, Economist

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