Analytics, Inflation, Lithuania, Statistics

International Internet Magazine. Baltic States news & analytics Sunday, 21.10.2018, 02:51

July harmonized average annual inflation stood at 3.4% in Lithuania

Donatas Bagavičius, Chief Specialist, Price Statistics Division, 09.08.2018.Print version
Statistics Lithuania informs that in July 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 3.4 per cent and was by 0.1 percentage points lower than that calculated based on the consumer price index (CPI).

Fig. 1. Average annual inflation calculated based on the HICP

 

In July 2018, annual inflation (July 2018, against July 2017) calculated based on the HICP stood at 2.3 per cent and was by 0.2 percentage points lower than that calculated based on CPI.


Fig. 2. Annual inflation calculated based on the HICP

 

In July 2018, against June, the decrease in prices for consumer goods and services calculated based on the HICP stood at 0.5 per cent. The same decrease in prices was calculated based on the CPI.


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

ECOICOP1 divisions of consumer goods and services

Relative share (weight) in total consumption expenditure, ‰

Price growth, drop (–), %

July 2018, against

Average annual

July 2017–2018
July 2016–2017

June 2018

July 2017

Consumption goods and services

1 000.0

–0.5

2.3

3.4

Food products and non-alcoholic beverages

203.8

–1.1

1.2

3.3

Alcoholic beverages and tobacco products

78.2

–0.1

2.0

7.6

Clothing and footwear

69.0

–7.9

0.0

1.0

Housing, water, electricity, gas and other fuels

106.2

–0.4

–0.2

3.3

Furnishings, household equipment and routine maintenance

71.1

–0.2

0.1

0.6

Health care

58.1

0.0

1.2

0.8

Transport

154.9

2.1

6.5

4.2

Communications

28.8

–0.1

–0.5

–0.2

Recreation and culture

84.9

0.5

2.6

2.7

Education

12.9

0.0

3.2

2.7

Hotels, cafes and restaurants

55.0

0.0

5.4

6.1

Miscellaneous goods and services

77.1

–0.3

3.1

4.2

_________________________
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

July 2018, against June 2018

Passenger transport by air

10.0

18.5

0.178

Fuels and lubricants

65.8

1.9

0.135

Package holidays

10.0

5.6

0.065

Solid fuels

11.8

3.3

0.045

Bread and cereal products

28.3

1.3

0.036

Tobacco products

26.9

0.7

0.019

Fruit

11.0

–2.2

–0.023

Other personal care devices, accessories  and appliances

21.8

–1.1

–0.025

Heat energy

28.0

–4.4

–0.107

Footwear

18.4

–7.0

–0.123

Vegetables

21.1

–11.4

–0.235

Clothing

46.5

–8.9

–0.402

July 2018, against June 2017

Fuels and lubricants

65.8

17.0

1.070

Solid fuels

11.8

24.0

0.281

Milk and milk products, cheese and eggs

39.0

5.3

0.215

Catering services of restaurants, cafés and the like

32.5

6.4

0.200

Tobacco products

26.9

6.9

0.190

Maintenance and repair of personal transport equipment

15.5

9.6

0.146

Spirits

18.5

–0.6

–0.037

Pharmaceuticals

33.0

–1.7

–0.052

Sugar, jam, honey, chocolate and confectionery

11.6

–4.6

–0.067

Fruit

11.0

–7.4

–0.087

Services of passenger transport by air

10.0

–19.5

–0.290

Heat energy

28.0

–13.1

–0.379

 

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.






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