Analytics, Financial Services, Inflation, Lithuania, Wages

International Internet Magazine. Baltic States news & analytics Monday, 23.10.2017, 21:58

PM: Lithuania's inflation won't eat up revenue growth

BC, Vilnius, 12.10.2017.Print version
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, informs LETA/BNS.

"We will definitely not have (inflation of) 5%, from what we project, salaries in the private sector should grow by 10% and in the public sector by 6% this year. In light of the next year's budget, inflation will not eat it all," Skvernelis told Ziniu Radijas news radio on Thursday morning.

 

The annual inflation stood at 4.8% in September, as compared year-on-year, while the average annual inflation was 3% (4.4% and 2.6% in August, respectively).

 

Lithuania's Finance Ministry projected in September that the average annual inflation for 2017 would be 3.5% in light of the faster increase in prices for services, which is 0.1 percentage points above the spring estimates.






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