International Internet Magazine. Baltic States news & analytics
Monday, 25.07.2016, 09:10
Prices for food and non-alcoholic beverages in Lithuania in 2015 were among the lowest across the European Union (EU), figures from the EU statistical office Eurostat showed on June 15th, informs LETA/BNS.
Keyword tags: Analytics, EU – Baltic States, Inflation, Markets and Companies
Statistics Lithuania informs that in May 2016, average annual inflation calculated based on the harmonised index of consumer prices (HICP), which is methodologically harmonised with those of other EU member states, was zero and tallied with the CPI-based one.
The impact of inflation raising factors will increase in the coming months, but the inflation dynamic of the first five months of the year 2016 in Latvia invites the assessment that they will not return the average annual inflation to positive territory, Bank of Latvia economist Daina Paula said in a commentary on the central bank's analytical website makroekonomika.lv, cites LETA.
Latest data of the Central Statistical Bureau (CSB) show that, during the year* (in May 2016, compared to May 2015) average level of consumer prices reduced by 0.8%. Prices of goods decreased by 1.6%, while prices of services grew by 1.3%.
The Bank of Estonia and the Estonian Finance Ministry both said in their comments on May inflation data published on June 7th that the consumer price index is due to start rising again in the fall, driven by rising commodity prices, informs LETA/BNS.
According to Statistics Estonia, the change of the consumer price index in May 2016 was 0.1% compared to April 2016 and –0.9% compared to May of the previous year.
The European Forecasting Network (EFN) is a research group of European institutions, founded under the auspices of the European Commission, and currently partly financially supported by the European University Institute (EUI, based in Florence, Italy), which is coordinating the report under the responsibility of Prof. Massimiliano Marcellino.