Lithuania: Inflation jumps in December
January 9, 2017
Consumer prices in Lithuania rose 0.4% in December from the previous month, which was a notch above the 0.3% increase observed in November. According to the Statistical Institute, the figure reflected strong growth in prices for food and non-alcoholic beverages and transport, which more than offset drops in prices for clothing and footwear, and alcoholic beverages and tobacco products.
Inflation came in at 1.7% in December. This was notably above November’s 1.0% figure and marked the highest reading in almost four years. Meanwhile, harmonized inflation (based on the Harmonized Index of Consumer Prices) rose to 2.0% in December from November’s 1.1% figure, which was the highest increase in prices seen since February 2013. Annual average HICP inflation also inched up from a 0.5% reading in November to 0.7% in December.
Author: David Ampudia, Economist