Lithuania: Inflation falls to the lowest level in three years
July 8, 2013
In June, consumer prices fell 0.2% over the previous month, which contrasted the 0.2% increase tallied in May. According to the statistical institute, the result mainly reflected lower prices for clothing and footwear.
As a result of the monthly price decline, annual headline inflation fell from 1.4% in May to 1.2% in June, the lowest level in three years. Meanwhile, annual average HICP inflation (based on the harmonized index of consumer prices) inched down from 2.7% in April to 2.6% in May, the latest month for which data are available.
According to its macroeconomic forecasts from May, the Central Bank expects HICP inflation to average 2.0% in 2013 and 2.4% in 2014. FocusEconomics Consensus Forecast panellists expect harmonized inflation to average 2.6% this year, which is down 0.1 percentage points from last month's estimate. Next year, the panel sees inflation at 2.8%.