Lithuania: Inflation falls to lowest level in over two years
March 8, 2013
In February, consumer prices remained unchanged over the previous month, which was below the 0.2% increase recorded in January. According to the statistical institute, the result reflected how higher prices for fuel and lubricants were offset by lower prices for energy as well as for clothing.
As a result, annual headline inflation fell from 2.6% in January to 2.2% in February, the lowest level observed since September 2010. Meanwhile, annual average HICP inflation (based on the harmonized index of consumer prices) inched down from 3.2% in December to 3.1% in January, the latest month for which data are available.
According to its macroeconomic forecasts from February, the Central Bank expects HICP inflation to average 2.4% in 2013 and 3.0% in 2014. FocusEconomics Consensus Forecast panellists expect harmonized inflation to average 3.0% this year, which is unchanged from last month's estimate. Next year, the panel sees inflation remaining stable at 3.0%.