Lithuania: Inflation edges up in May
June 10, 2013
In May, consumer prices rose 0.2% over the previous month, which was slightly below the 0.3% increase tallied in April. According to the statistical institute, the result mainly reflected higher prices for clothing and footwear as well as for food and non-alcoholic beverages.
As a result of the monthly price rise, annual headline inflation edged up from 1.2% in April to 1.4% in May. Meanwhile, annual average HICP inflation (based on the harmonized index of consumer prices) inched down from 2.8% in March to 2.7% in April, the latest month for which data are available.
According to its macroeconomic forecasts from February, the Central Bank expects HICP inflation to average 2.4% in 2013 and 3.0% in 2014. FocusEconomics Consensus Forecast panellists expect harmonized inflation to average 2.7% this year, which is unchanged from last month's estimate. Next year, the panel sees inflation at 2.8%.