Lithuania: Inflation rises in February
January 10, 2012
In February, consumer prices rose 0.4% over the previous month (January: +0.3% month-on-month), which represented the largest monthly gain in five months. According to the statistical institute, the increase reflected higher prices for transport and housing, which more than offset a decrease in costs for clothing and footwear. Owing to the monthly rise, annual headline inflation stepped up from 3.4% in January to 3.7% in February. Moreover, annual HICP inflation (based on the harmonized index of consumer prices) also jumped from 3.4% in January to 3.7% in February. Despite the monthly increase, the trend was stable, with the annual average HICP inflation remaining unchanged at January's 4.2%. According to its February macroeconomic forecast, the Central Bank expects HICP inflation to average 2.1% this year and 2.4% in 2013.