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Country Report Lithuania Product Image

Country Report Lithuania

  • Published: September 2014
  • Region: Lithuania
  • 25 Pages
  • The Economist Intelligence Unit

In July 2014 prices for consumer goods and services fell by 0.5% month on month (seasonally adjusted), after remaining flat in the previous month. Annual inflation rose by 0.3% (unadjusted), following a 0.2% increase in June.

Lithuania's consumer price index (CPI) rose for the second consecutive month in annual terms in July, following 0.1% deflation in May, according to Statistics Lithuania. The July reading was predominantly driven by a rise in food prices and the prices of alcohol and tobacco products, due to a rise in excise duties in March and April. Downward pressures originated from lower energy prices, mainly due to global trends, the modernisation of the heating sector and lower gas prices from the Russian gas utility, Gazprom.

Lithuania's price movements are representative of a wider European trend, with very low inflation witnessed across the euro zone and much of central and eastern Europe in recent months. Based on the harmonised index of consumer prices (HICP), Lithuania's average annual inflation rate was at 0.5% in July, the seventh-highest rate in the EU and only slightly above the 0.4% inflation seen in the euro zone.

Country Report Lithuania

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