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Saturday, 20.12.2014, 11:41
Central bank: increased consumption and investment encourage consistent growth of Lithuania's economy15.12.2014
Increased consumption and investment encourage consistent growth of Lithuania's economy; however, a poorer outlook for the country's major foreign trade partners, as well as gradually slowing development of domestic demand led to more cautious GDP growth projections for the year 2015, reports LETA/ELTA.
Keyword tags: Analytics, Baltic States – CIS, Economics, GDP, Inflation, Investments, Lithuania
Statistics Lithuania informs that in November 2014 average annual inflation calculated based on the harmonised index of consumer prices (HICP), which is methodologically harmonised with those of other EU Member States, stood at 0.3%.
According to the latest data of the Central Statistical Bureau (CSB), compared to November 2013 (1), the average consumer price level in November 2014, rose by 0.9%.
The impact of temporarily falling prices on the economy is small, Eesti Pank said in comment to the fresh consumer price index data, reports LETA.
The Bank of Latvia projects that Latvia's actual GDP growth this year will be 2.8%, but in 2015 2.7%, and that inflation will be at 0.7% this year and 1.4% next year, reports LETA.
According to Statistics Estonia, the change of the consumer price index in November 2014 was -0.8% compared to October 2014 and -0.6% compared to November of the previous year.
European Central Bank chief Mario Draghi said on December 4, 2014, that the ECB has "significantly" revised down its inflation and growth outlook for the eurozone, reports LETA/DPA.