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Exports

Lithuania's Consumer Price Inflation Eases to 5-Month Low

Strategic Insights

— 1 min read

Lithuania's consumer price inflation showed a significant slowdown in May, with the annual inflation rate falling to 3.4%, the lowest since December last year. This easing in inflation was primarily driven by a sharp decline in clothing and footwear prices, which dropped by 2%. The inflation rate for food and non-alcoholic beverages also moderated to 4.4% in May, from 5.0% in April. On a monthly basis, consumer prices dropped by 0.3% in May, contrasting with a 0.1% gain in April. The trade deficit in Lithuania also widened in April, with a deficit of £575 million ($657 million), mainly due to a decrease in exports and an increase in imports.

Key Takeaways:

  • Lithuania's consumer price inflation eased to 3.4% in May, the lowest since December last year.
  • A 2% fall in clothing and footwear prices significantly impacted the slowdown in inflation.
  • The inflation rate for food and non-alcoholic beverages moderated to 4.4% in May from 5.0% in April.
  • On a monthly basis, consumer prices dropped by 0.3% in May after a 0.1% gain in April.
  • The trade deficit in Lithuania widened to £575 million ($657 million) in April, from £339 million last year.
  • Exports decreased by 4.5% over the year, while imports increased by 2.7% in April.
  • The downward trend in exports was primarily caused by a fall in outflows of mineral fuels, mineral oils, and products of their distillation.

Statistics:

  • Lithuania's consumer price inflation rate: 3.4% in May.
  • Lowest inflation rate since: December last year (2.1%).
  • Annual price growth in food and non-alcoholic beverages: 4.4% in May.
  • Annual price growth in housing and utilities: 2.5% in May.
  • Monthly drop in consumer prices: 0.3% in May.
  • Trade deficit: £575 million ($657 million) in April.
  • Exports decrease over the year: 4.5%.
  • Imports increase over the year: 2.7%.
  • Trade deficit in March: £1.6 billion.

Sources:

  • "Statistics Department" (no date)
  • Data and figures from the "Lithuanian Statistical Department" (no date)
  • "Downward trend in exports" and "exports decrease over the year" - [Nacionai Talentas](https://www.nacionalia.lt/en/-the-market-is-thriving-but-exports-are-declining/)

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