Lithuania: Inflation remains unchanged in November for 3rd consecutive month
December 9, 2013
In November, consumer prices inched down 0.2% over the previous month, following the 0.1% decrease tallied in October. According to the statistical institute, the decline was mostly driven by lower prices for transport and communication.
Annual headline inflation remained at 0.4% for the third consecutive month in October, which marks the lowest level in more than three years. Meanwhile, annual HICP inflation (based on the harmonized index of consumer prices) came in at 0.5% for the second consecutive month in October, the latest month for which data are available. Annual average HICP inflation edged down from 1.8% in September to 1.6% in October.
According to its macroeconomic forecasts from November, the Central Bank expects HICP inflation to average 1.3% in 2013 and 1.5% in 2014. FocusEconomics Consensus Forecast panelists expect harmonized inflation to average 1.5% this year, which is down 0.1 percentage points from last month's estimate. Next year, the panel sees inflation at 2.3%, which is also down 0.1 percentage points from last month's projection.
Author: Carl Kelly, Economist