Lithuania: Inflation continues to accelerate in May
June 8, 2011
In May, consumer prices climbed 0.7% over the previous month, which was below the 1.0% rise tallied in April. The monthly increase was driven by higher prices for clothing and footwear (+2.2% month-on-month), housing, gas and other fuels (+1.7% mom) as well as for food and non-alcoholic beverages (+1.3% mom). As a result of the monthly increase, annual headline inflation jumped from 4.4% in April to 5.0% in May, which marked the highest rate in two years. Meanwhile, annual average HICP inflation (based on the harmonized index of consumer prices) also continued to trend upwards, rising to 2.8% in May (April: +2.5% year-on-year).