Analytics, Inflation, Lithuania, Markets and Companies

International Internet Magazine. Baltic States news & analytics Thursday, 28.03.2024, 12:20

In August, annual inflation in Lithuania stood at 4.4%

Nadiežda Alejeva, Statistics Lithuania, 08.09.2017.Print version
Statistics Lithuania informs that in August 2017, against July, the calculated overall price change in consumer goods and services was close to zero, because an increase in prices for certain consumer goods and services was counterbalanced by a decrease in other consumer goods and services. This was mainly influenced by a decrease in prices for vegetables, clothing, footwear and pharmaceuticals, as well as an increase in prices for milk and milk products, cheese and eggs, cars, tobacco products, oil and fats (see Table 3).

Over the said period, prices for consumer goods decreased by 0.2%, those for consumer services –increased by 0.4%. The influence of the change in prices for consumer goods on the overall monthly price change stood at minus 0.145 percentage points, that of the change in prices for consumer services – at plus 0.094 percentage points.




Prices for consumer goods and services regulated by State and municipal authorities decreased by 0.4%, while market prices remained almost unchanged. The influence of the change in prices regulated by State and municipal authorities stood at minus 0.054 percentage points, the influence of the change in market prices stood at plus 0.007 percentage points.


In August 2017, against July, the largest increase in prices among food products was observed for milk and most products of milk, as well as butter, while the largest decrease was recorded for vegetables.




Due to discounts, clothing and footwear went down in price by 1.7%.


The overall change in prices for alcoholic beverages and tobacco products was determined by an increase in prices for tobacco products (1.7%), wine and wine products (0.7%) and spirits (0.5%), as well as by a decrease in prices for beer (0.4%).


For more detailed information on the largest price changes, see Table 1.

 

Table 1. Largest changes in prices for consumer goods and services in August 2017, against July, %

Categories of goods and services

Price growth,%

Categories of goods and services

Price drop (–),%

Fresh fruit and vegetables

Beetroots

33.3

Early potatoes

–27.4

Onions

21.0

Sweet pepper

–23.8

Lettuce (butterhead, crisphead)

16.5

Short cucumbers

–21.9

Kiwis

10.1

Grapes

–17.4

Leaf lettuce

8.7

Tomatoes

–16.9

Oranges

8.3

Cauliflowers

–16.1

Carrots

8.2

Early white cabbage

–15.3

Apples

0.6

Garlics

–15.1

 

 

Chinese cabbage

–12.9

 

 

Spinach

–11.8

 

 

Melons

–7.9

Food products and non-alcoholic beverages (excl. fresh fruit and vegetables)

Butter and butter products

8.0

Chocolate

–5.2

Sour cream

6.9

Chips

–5.2

Pasta

3.8

Edible ice-cream

–2.5

Kefir and soured milk

3.7

Tea

–2.5

Dried fruit

3.5

Pasta with meat

–2.5

Mineral or spring water

3.4

Confectionery

–1.9

Edible offal

3.1

Other edible oil

–1.9

Non-food products

Textbooks

2.3

Lighting equipment

–4.9

Cars

1.7

Equipment for sport, camping and open-air recreation

–3.9

Irons

1.4

Non-electric kitchen utensils

–3.7

Watches

1.4

Table and bathroom linen

–3.2

Bicycles

0.8

Footwear

–2.5

Refrigerators and freezers

0.7

Clothing

–1.5

Energy goods

Liquid fuel

1.9

Heat energy

–1.1

Liquefied gas for cooking

0.8

Liquefied gas for cars

–0.4

Solid fuel

0.7

 

 

Diesel fuel

0.6

 

 

Petrol

0.3

 

 

Services

Transport insurance

3.5

Sanatoriums

–2.7

Passenger transport by local transport

3.2

 

 

Guides

2.5

 

 

Hotels

1.5

 

 

Holiday accommodation

1.2

 

 

Passenger transport by air

0.7

 

 

Package holidays

0.6

 

 


In August 2017, annual (August 2017, against August 2016) inflation stood at 4.4%.




Annual inflation was mainly influenced by an increase in prices for beer, milk and milk products, cheese and eggs, fuels and lubricants, services of restaurants, cafés and the like, passenger transport by air, as well as by a decrease in prices for pharmaceuticals, electricity, vegetables (see Table 3).


Over the year, prices for consumer goods and services increased by 3.8 and 6% respectively. In August 2017, against August 2016, prices regulated by State and municipal authorities decreased by 0.4%, while market prices increased by 5.1%.


Table 2. Changes in prices for consumer goods and services, August 2017, %

COICOP divisions of consumer goods and services

Relative share (weight) of consumption expenditure in total consumption expenditure

Price growth, drop (–)

August 2017, against

Average annual

August 2016–2017 

August 2015–2016 

July 2017

2016 

December

August

Consumer goods and services

100.0

0.0

2.4

4.4

2.6

Food products and non-alcoholic beverages

22.43

0.1

1.3

3.6

2.5

Alcoholic beverages and tobacco products

9.20

0.0

13.3

12.1

8.3

Clothing and footwear

7.66

–1.7

–10.7

1.2

0.0

Housing, water, electricity, gas and other fuels

11.76

0.1

2.3

3.7

–0.6

Furnishings, household equipment and routine maintenance of the house

5.61

–0.8

0.2

1.1

1.2

Health care

6.70

–0.6

0.9

–0.2

1.3

Transport

13.26

0.8

3.1

5.5

3.8

Communications

3.39

0.0

0.9

1.0

–3.2

Recreation and culture

7.05

–0.1

4.9

4.5

2.8

Education

1.70

0.0

0.4

2.1

2.6

Hotels, cafes and restaurants

4.98

0.5

5.7

7.5

6.8

Miscellaneous goods and services

6.26

0.0

5.0

5.1

4.0

Consumer goods

74.21

–0.2

1.2

3.8

2.2

Consumer services

25.79

0.4

6.0

6.0

3.8




Table 3. Largest influence on the overall change in consumer prices over the month by COICOP class of consumer goods and services
 

COICOP classes of consumer goods and services

Relative share (weight) of consumption expenditure in total consumption expenditure, %

Price growth,
drop (–), %

Influence, percentage points

August 2017, against July

Milk and milk products, cheese, eggs

4.1

2.7

+0.111

Cars

2.9

1.7

+0.048

Tobacco products

2.5

1.7

+0.043

Oil and fats

1.2

3.2

+0.038

Passenger transport by road

1.1

2.2

+0.023

Fuels and lubricants

6.0

0.3

+0.018

Heat energy

2.2

–1.1

–0.024

Sugar, jam, honey, chocolate and confectionery

1.6

–2.0

–0.032

Pharmaceuticals

3.6

–1.3

–0.043

Footwear

2.2

–2.5

–0.049

Clothing

5.1

–1.5

–0.068

Vegetables

1.6

–8.4

–0.112

August 2017, against August 2016

Beer

2.0

30.4

+0.593

Milk and milk products, cheese, eggs

4.1

10.7

+0.431

Fuels and lubricants

6.0

6.0

+0.354

Catering services of restaurants, cafés and the like

3.4

9.3

+0.303

Passenger transport by air

0.6

33.3

+0.252

Spirits

3.1

6.5

+0.212

Cars

2.9

–0.5

–0.015

Equipment for the reception, recording and reproduction of sound and pictures

0.4

–3.7

–0.016

Telephone equipment

0.3

–6.9

–0.019

Vegetables

1.6

–6.5

–0.078

Electricity

2.1

–4.9

–0.103

Pharmaceuticals

3.6

–4.4

–0.164


A news release on the September 2017 CPI is due on 9 October 2017. More information on the issue is available in the Database of Indicators






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