Lithuania: Inflation remains unchanged in October
November 11, 2013
In October, consumer prices inched down 0.1% over the previous month, following the 0.7% increase tallied in September. According to the statistical institute, much higher prices for clothing and footwear were offset by lower prices for transport as well as for recreation and culture.
Annual headline inflation remained at 0.4% for the second consecutive month in October, which marks the lowest level in more than three years. Meanwhile, annual average HICP inflation (based on the harmonized index of consumer prices) edged down from 1.8% in September to 1.6% in October.
According to its macroeconomic forecasts from August, the Central Bank expects HICP inflation to average 1.4% in 2013 and 1.5% in 2014. FocusEconomics Consensus Forecast panelists expect harmonized inflation to average 1.6% this year, which is unchanged from last month's estimate. Next year, the panel sees inflation at 2.4%, which is also unchanged from last month's projection.
Author: Carl Kelly, Economist