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International Internet Magazine. Baltic States news & analytics Friday, 20.07.2018, 05:48

In March, harmonized average annual inflation in Lithuania stood at 3.7%

Donatas Bagavičius, Statistics Lithuania, 13.04.2018.Print version
Statistics Lithuania informs that in March 2018, 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 3.7% and was by 0.2 percentage points lower than that calculated based on the consumer price index (CPI).

In March 2018, annual inflation (March 2018, against March 2017) calculated based on the HICP stood at 2.5% and was by 0.2 percentage points lower than the CPI-based one.




In March 2018, against February, the increase in prices for consumer goods and services calculated based on the HICP stood at 0.4%. The same increase was calculated based on the CPI.


Table 1. Rates of change in prices for consumer goods and services calculated based on the HICP, March 2018

ECOICOP1 divisions of consumer goods and services

Relative share (weight) in total consumption expenditure, ‰

Price growth, drop (–), %

March 2018, against

Average annual

March 2017–2018
March 2016–2017

February 2018

March 2017

Consumption goods and services

1 000.0

0.4

2.5

3.7

Food products and non-alcoholic beverages

203.8

–0.4

2.1

3.1

Alcoholic beverages and tobacco products

78.2

1.2

4.1

11.2

Clothing and footwear

69.0

4.3

1.4

1.2

Housing, water, electricity, gas and other fuels

106.2

0.1

4.5

3.0

Furnishings, household equipment and routine maintenance

71.1

0.0

0.5

0.9

Health care

58.1

0.2

0.3

0.8

Transport

154.9

0.0

2.3

4.1

Communications

28.8

0.1

–1.9

0.1

Recreation and culture

84.9

0.3

2.7

2.7

Education

12.9

0.1

2.5

2.4

Hotels, cafes and restaurants

55.0

0.4

5.2

6.9

Miscellaneous goods and services

77.1

0.7

3.3

5.0

_______________________
1 European Classification of Individual Consumption According to Purpose (ECOICOP).


For the calculation of annual and average annual inflation, monthly price changes and price changes for other periods, the HICPs calculated based on the 2015 index base period (2015 = 100) accurate to two decimal places are used. Price indices are published accurate to two decimal places, inflation and price changes – to one decimal place.

Table 2. ECOICOP classes of consumer goods and services whose rates of change in prices had the biggest impact on the overall price change

ECOICOP classes of consumer goods and services

Relative share (weight) in total consumption expenditure, ‰

Price growth, drop (–), %

Impact, percentage points

March 2018, against February 2018

Clothing

46.5

4.3

+0.185

Footwear

18.4

3.6

+0.059

Tobacco products

26.9

1.7

+0.046

Passenger transport by air

10.0

3.8

+0.030

Other articles of clothing and clothing accessories

3.5

8.9

+0.028

Beer

20.4

1.3

+0.027

Sugar, jam, honey, chocolate and confectionery

11.6

–1.1

–0.013

Fruit

11.0

–1.2

–0.014

Milk and milk products, cheese, eggs

39.0

–0.7

–0.026

Coffee, tea and cocoa

9.3

–3.1

–0.028

Oil and fats

10.5

–2.9

–0.030

Fuels and lubricants

65.8

–1.0

–0.065

March 2018, against March 2017

Tobacco products

26.9

8.9

+0.245

Solid fuel

11.8

19.6

+0.232

Milk and milk products, cheese, eggs

39.0

5.7

+0.230

Catering services of restaurants, cafés and the like

32.5

7.7

+0.226

Oil and fats

10.5

11.9

+0.127

Beer

20.4

5.2

+0.112

Telephone services

24.8

–1.3

–0.032

Sugar, jam, honey, chocolate and confectionery

11.6

–2.7

–0.040

Vegetables

21.1

–1.9

–0.049

Spirits

18.5

–1.7

–0.061

Coffee, tea and cocoa

9.3

–6.3

–0.064

Pharmaceuticals

33.0

–3.9

–0.118

 

The overall change in consumer prices is influenced not only by the size of the price change for a certain product but also by the relative share (weight) of expenditure on that product in the total consumption expenditure


Concepts

Inflation is a long-term increase in the general price level, resulting in a decrease in the purchasing power of money. Inflation is usually calculated based on the consumer price index and expressed in per cent.


Annual inflation shows the relative change in the average price level in the reporting month and the corresponding month of the previous year. Average annual inflation shows the relative change in the average price level in the last twelve months and the corresponding previous twelve months.


Harmonized index of consumer prices – a consumer price index compiled according to a methodology harmonised across the European Union.


Consumer price index – a relative indicator reflecting the overall change in prices for consumer goods and services purchased by households to satisfy their consumption needs over a certain period of time.


A news release on the April 2018 inflation calculated based on the HICP is due on 10 May 2018.


For more information on the issue, please see the Database of Indicators and Eurostat’s website.






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