Analytics, Inflation, Lithuania, Markets and Companies

International Internet Magazine. Baltic States news & analytics Wednesday, 20.06.2018, 16:08

In May, annual inflation in Lithuania stood at 2.9%

Nadiežda Alejeva, Statistics Lithuania, 08.06.2018.Print version
Statistics Lithuania informs that in May 2018, against April, prices for consumer goods and services increased by 0.4%. This was mainly influenced by an increase in prices for fuels, footwear, maintenance and repair of personal transport equipment, pharmaceuticals, as well as by a decrease in prices for heat energy, waste collection services, fruit and spirits (see Table 3).

Over the said period, prices for consumer goods increased by 0.5, those for consumer services – by 0.2%. The influence of the change in prices for consumer goods on the overall monthly price change stood at plus 0.349 percentage points, that of the change in prices for consumer services – at plus 0.048 percentage points.


 


Prices for consumer goods and services regulated by State and municipal authorities decreased by 1.3%, while market prices – increased by 0.7%. The influence of the change in prices regulated by State and municipal authorities stood at minus 0.173 percentage points, the influence of the change in market prices – at plus 0.569 percentage points. 



In May 2018, against April, in the transport group of goods and services, the price changes (prices increased by 3.5%) was determined by a price growth for fuels, maintenance and repair of personal transport equipment, passenger transport by air.

 

Due to new summer collections, prices for clothing and footwear increased by 1.8%.



As regards services of hotels, cafés and restaurants, prices increased by 0.9%. The increase was influenced by a price growth for accommodation and catering services.

As regards housing, water, electricity, gas and other fuels (prices decreased by 1.5%), the largest price drop was recorded for waste collection services and heat energy, while products and materials for the maintenance and repair of the dwelling went up in price.

Among food products and non-alcoholic beverages (prices decreased by 0.4%), significant price drop was observed for bananas, early white cabbage, short cucumbers, avocados, grapes, eggs and ice-cream, while price growth – for melons, carrots, butterhead lettuce, sweet pepper, Chinese cabbage, coffee and oil.

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

Table 1. Largest changes in prices for consumer goods and services in May 2018, against April, Per cent

Categories of goods and services

Price growth,%

Categories of goods and services

Price drop (–),%

Fresh fruit and vegetables

Melons

24.3

Bananas

–18.7

Carrots

22.6

Early white cabbage

–17.4

Head lettuce

22.1

Short cucumbers

–14.9

Sweet pepper

19.0

Avocados

–10.2

Chinese cabbage

15.6

Grapes

–9.1

Lemon

10.0

Spinach

–7.2

Grapefruit

7.8

Oranges

–6.2

Early potatoes

7.8

Leaf lettuce

–5.4

Beetroot

5.6

Tomatoes

–5.1

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

Coffee

3.5

Eggs

–5.2

Oil

2.6

Ice-cream

–3.9

Fresh or chilled seafood

2.4

Edible offal

–3.2

Baby food

2.0

Chocolate

–3.0

Smoked sausages

1.7

Rice

–2.5

Dough products with meat

1.7

Sugar

–2.0

Salted fish

1.6

Cereal flakes

–2.0

Crisps

1.2

Pizzas and quiches

–1.9

Confectionery

1.2

Preserved milks

–1.4

Tea

1.1

Cheese

–0.8

Alcoholic beverages and tobacco products

Wine and wine products

0.9

Spirits

–1.6

Tobacco products

0.1

Beer

–0.3

Non-food products

Footwear

4.4

Baby products

–2.5

Sports equipment

3.8

House and garden tools and equipment

–1.7

Pet products

3.0

Household cleaning and maintenance products

–1.6

Flowers

1.8

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

–1.3

Personal hygiene products

1.6

Lighting equipment

–0.9

Products and materials for the maintenance and repair of the dwelling

1.4

Accessories for personal transport equipment

–0.8

Pharmaceuticals

1.0

Telephone equipment

–0.7

Clothing

0.7

 

 

Energy goods

Petrol

7.0

Heat energy

–6.2

Diesel fuel

6.8

 

 

Liquefied gas for cars

5.3

 

 

Liquid fuel

4.0

 

 

Liquefied gas for cooking

0.4

 

 

Solid fuel

0.2

 

 

Services

Hotels

12.6

Waste collection

–11.4

Sanatoriums

4.5

Funeral services

–1.1

Repair of furniture

3.1

Transport insurance

–1.0

Passenger transport by air

2.7

Package holidays

–0.8

Maintenance and repair of personal transport equipment

2.4

Recreation and sport

–0.7

Holiday houses

2.2

 

 

Services of photographers

1.5

 

 

Maintenance and repair of dwelling

1.1

 

 

Catering

0.5

 

 

 

In May 2018, annual (May 2018, against May 2017) inflation stood at 2.9%.


Annual inflation was mainly influenced by an increase in prices for fuels and lubricants, solid fuel, milk and milk products, cheese and eggs, services of restaurants, cafés and the like, tobacco products, oil and fats, as well as by a decrease in prices for spirits, pharmaceuticals, wine and wine products, sugar, chocolate and confectionery, fruit (see Table 3).




Over the year, prices for consumer goods and services increased by 2.3 and 4.6% respectively. In May 2018, against May 2017, prices regulated by State and municipal authorities increased by 0.2, market prices – 3.3%.


In May 2018, average annual inflation rate stood at 3.7%. 


Table 2. Changes in prices for consumer goods and services, May 2018

COICOP divisions of consumer goods and services

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

Price growth, drop (–)

May 2018, against

Average annual
May 2017–2018 
May 2016–2017

April 2018

2017 

December

May

Consumer goods and services

100.0

0.4

1.6

2.9

3.7

Food products and non-alcoholic beverages

21.97

–0.4

0.4

2.6

3.4

Alcoholic beverages and tobacco products

8.92

–0.4

2.1

0.0

8.9

Clothing and footwear

7.35

1.8

0.4

0.8

1.2

Housing, water, electricity, gas and other fuels

11.66

–1.5

1.1

4.0

3.8

Furnishings, household equipment and routine maintenance of the house

5.34

–0.5

1.3

0.5

0.8

Health care

6.66

0.7

1.1

1.4

0.9

Transport

13.66

3.5

3.9

6.7

3.6

Communications

3.29

–0.1

–1.0

–1.6

0.1

Recreation and culture

7.14

0.1

1.5

3.6

4.1

Education

1.78

0.4

1.2

3.1

2.5

Hotels, cafés and restaurants

5.37

0.9

2.9

6.1

7.4

Miscellaneous goods and services

6.86

0.2

2.6

3.4

4.4

Consumer goods

72.76

0.5

1.5

2.3

3.1

Consumer services

27.24

0.2

1.8

4.6

5.3

 

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

May 2018, against April

Fuels and lubricants

6.3

6.7

+0.422

Footwear

2.1

4.4

+0.091

Maintenance and repair of personal transport equipment

1.9

2.4

+0.045

Pharmaceuticals

3.3

1.0

+0.034

Clothing

4.9

0.7

+0.033

Coffee, tea and cocoa

1.0

2.9

+0.028

Non-durable household goods

1.6

–1.6

–0.026

Milk and milk products, cheese and eggs

4.2

–0.7

–0.030

Spirits

2.5

–1.6

–0.042

Fruit

1.3

–5.4

–0.070

Waste collection

0.6

–11.4

–0.077

Heat energy

2.2

–6.2

–0.136

May 2018, against May 2017

Fuels and lubricants

6.3

10.0

+0.624

Solid fuel

1.7

19.7

+0.332

Milk and milk products, cheese and eggs

4.2

6.3

+0.254

Services of restaurants, cafés and the like

3.8

6.1

+0.217

Tobacco products

2.5

8.8

+0.213

Oil and fats

1.3

15.6

+0.181

  Sewerage collection services

0.6

–6.6

–0.040

Fruit

1.3

–3.7

–0.052

Sugar, jam, honey, chocolate and confectionery

1.5

–4.2

–0.066

Wine and wine products

1.6

–3.8

–0.075

Pharmaceuticals

3.3

–2.4

–0.085

Spirits

2.5

–4.6

–0.170


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.

More information on the issue is available in the Database of Indicators.






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