Analytics, EU – Baltic States, Inflation, Lithuania, Markets and Companies
International Internet Magazine. Baltic States news & analytics
Friday, 29.03.2024, 02:00
In March, harmonized average annual inflation in Lithuania stood at 3.7%
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 |
|||
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.