Analytics, Inflation, Lithuania, Markets and Companies

It was mainly influenced by an increase in prices for package holidays, passenger air transport services, other non-electric appliances, articles and products for personal care, refuse collection services, fruit, pharmaceuticals, as well as by a decrease in prices for heat energy, footwear, vegetables, beer, fuels and lubricants (see Table 2).

Over the said period, prices for consumer goods dropped by 0.3, for consumer services – grew by 1%. An increase in consumer service prices was observed for the third month in a row.

Consumer price indices per month, compared to the previous month

Prices for consumer goods and services regulated by State and municipal authorities decreased by 0.4%, while market prices increased by 0.1%. The influence of the change in prices regulated by State and municipal authorities was negative and stood at minus 0.05%age points, while the influence of market prices was positive and stood at plus 0.06 percentage points.

In June 2014, against May, in the group of transport goods and services, the largest increase in prices was observed for passenger transport by water services – 34.6%, and passenger transport by air services – 14%. Prices for bicycles went up by 1.6, petrol – 0.4%, while prices for liquefied gas for cars dropped by 2.8, diesel fuel – 0.9%.

As for recreational and cultural goods and services, the largest increase in prices – by 7.8% – was observed for package holidays. Prices for flowers decreased by 1.7, equipment for sports, camping and open-air recreation– 1, toys and games – 0.7, information processing equipment – 0.6%.

In the group of miscellaneous goods and services, other non-electric appliances, articles and products for personal carewent up in price by 1.8, services of hairdressers and personal grooming establishments – 0.7%, while prices forelectrical appliances for personal care decreased by 1.1%.

Due to seasonal discounts, prices for footwear dropped by 3.2, clothing – 0.4%. Prices for clothing cleaning, repair and rental services grew by 0.5, other wearing apparel and accessories – 0.4%.

As for housing, water, electricity, gas and other fuels goods and services, the largest decrease in prices was observed for heat energy – 4.5, and coil – 1.5%. Refuse collection service prices went up by 5.5, housing rent – by 1.7%.

As for food products and non-alcoholic beverages, the largest decrease in prices was observed for cabbage – 19.3, and green vegetables – 13.1%. Due to discounts, prices for bananas went down by 8.3, grapes – 4.1, pears – 3.7, fruit and vegetable juices – 3.3, sugar – 3.1, eggs – 2.4, tea – 1.9, ice cream – 1.8%. An increase was observed in prices for vegetables from the previous harvest: root vegetables (carrots, beetroot) – by 13.8, onions – 2.9%. Prices for citrus fruit grew by 12.3, chocolate – 4.6%.

In June 2014, annual (June 2014, against June 2013) inflation stood at 0.2% and was by 1%age point lower than in June 2013 (in June 2013, against June 2012, it stood at 1.2%).

Annual inflation was mainly influenced by a 23.7% increase in prices for solid fuel, 6.2% – milk, cheese and eggs, 4.3% – tobacco products, 18.2% – sewage collection services, 15.2% – cold water, 13.1% – refuse collection services, 12.4% – housing rental, 4.2% – beer, 2% – restaurant and café services, 1.4% – clothing, as well as by a 18.4% decrease in prices for heat energy, 8.4% – telephone and telefax services, 5.4% – electricity, 6.7% – coffee, tea and cocoa.

Over the year, prices for consumer goods decreased by 0.1, for consumer services – grew by 0.9%.

In June 2014, compared to June 2013, prices for consumer goods and services regulated by State and municipal authorities decreased by 3.6%, while market prices increased by 0.9%.

In June 2014, average annual inflation stood at 0.3% and was by 2.1%age points lower than in June 2013 (2.4%).

Table 1. Changes in prices for consumer goods and services, June 2014, %

¹ COICOP – Classification of Individual Consumption by Purpose.

Table 2. Largest influence on the overall change in consumer prices over the month (June 2014, against May) by COICOP class of consumer goods and services

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 decrease in the purchasing power of a currency unit, which manifests itself in a long-term increase in the average general price level.

Annual inflation shows the relative change in the average price level between the reporting month and the corresponding month of the previous year.

Average annual inflation shows the relative change in the average price level between the last twelve months and the corresponding previous twelve months.

For more information, see the Database of Indicators.