Inflation

The euro area annual inflation rate was 2.4% in March 2024, down from 2.6% in February. A year earlier, the rate was 6.9%. European Union annual inflation was 2.6% in March 2024, down from 2.8% in February. A year earlier, the rate was 8.3%. These figures are published by Eurostat, the statistical o...

In February 2024, against January, prices for consumer goods and services increased by 0.7%, the State Data Agency reports. This was mainly influenced by an increase in prices recorded for fuels and lubricants, electricity, catering services of restaurants, cafés and the like, package holidays, main...

In January 2024, according to the harmonised index of consumer prices (HICP), which is methodologically harmonised with those of other EU member states, average annual inflation in Lithuania stood at 7.3 percent, average annual inflation calculated based on the consumer price index (CPI) – at 7.6 pe...

Euro area annual inflation is expected to be 2.9% in October 2023, down from 4.3% in September according to a flash estimate from Eurostat, the statistical office of the European Union.

The Bank of Lithuania forecasts that the country’s economy will experience a 0.6% recession in 2023. Projections for this year have been upgraded from a 1.3% recession forecast in June.

The annual (July 2023, compared to July 2022) inflation provisional estimate calculated based on the harmonised index of consumer prices (HICP) stands at 7.1 percent in Lithuania.

Lithuania’s annual inflation fell to 8.2 percent in June, according to a provisional estimate based on the harmonised index of consumer prices (HICP) from the State Data Agency.

Lithuania's Prime Minister Saulius Skvernelis says that people are more sensitive about inflation than they should be, adding that the price hike would not be steep enough to outdo growing salaries.

In January consumer prices increased by 0.3% compared with December and were 2.3% higher than a year ago.

Annual consumer price growth accelerated to 1.7% in December. Higher prices of food products (dairy products, meat), alcoholic drinks (beer), fuels, tobacco products as well as restaurant services contributed the most to annual inflation.

A survey shows overwhelming public support for a spontaneous boycott action in May when shoppers where urged to avoid major supermarket chains in protest of rising food prices. To read this article, try a €5.99 monthly subscription by clicking here.

A three-day boycott campaign in protest of retailers raising food praises have been a partial success, organizers say. Lithuania's major supermarket chains say they served between 3% and 5% fewer shoppers during the boycott.

The first long overdue signs of consumer empowerment in Lithuania provoked by rapidly rising prices of basic goods has been met by incredible accusations of Russian conspiracies, despite the evidence clearly showing that prices have skyrocketed in the wake of the introduction of the euro.

Lithuanian consumers outraged at spiking food prices are starting a three-day boycott of supermarkets on Tuesday. Industry experts say, however, that the initiative will not have much of an impact.

Prices of services in Lithuania rose 4.7% over the last year, according to a report by the country's statistics agency.

Growing consumer prices have irked many in Lithuania a year and a half after the country switched to the euro. While the prime minister has blamed it on retailer mark-ups, economists point to other reasons.

Food prices in Lithuanian supermarkets have grown because retailers have increased their margins, according to Prime Minister Algirdas Butkevičius.