Lithuanian inflation slows but soldiers on in May

Lithuanian inflation slows but soldiers on in May
By bne IntelliNews June 8, 2016

The growth in Lithuania's consumer price index (CPI) eased to 0.5% y/y, data from Statistics Lithuania showed on June 8.

The reading shows inflation slowing from 1% y/y in April, while the CPI remained unmoved in monthly terms. However, it's also notable that positive inflation persists on the back of rising household income and stabilising oil prices. While Lithuania spent the whole of 2015 locked in deflation, so far this year, CPI readings have remained positive.

Prices increased in most segments in May, with a 6.2% boost in recreation and culture the largest gain, followed by a 6% increase in the hotels and restaurants segment. Prices in the transport sector fell 7.5%, remaining the largest drag on headline inflation. 

The trend so far in 2016 supports Swedbank forecasts that the full year inflation reading could push as high as 1.8%. That conviction is yet to spread to institutions, however, with the European Commission pitching the likely gain in Lithuanian CPI at just 0.6%.

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