News2023.02.14 11:44

Lithuania reports annual inflation of 20% in January

BNS 2023.02.14 11:44

The prices of consumer goods and services were 20 percent higher this January compared to the same month last year, the State Data Agency said. 

Monthly inflation stood at 0.7 percent in January compared to December, while the average annual inflation was 20.3 percent.

Inflation for the month was mainly driven by prices of natural gas, electricity, alcohol, bread and cereal products, personal care products, meat. Meanwhile, prices for clothing, fuel, heat and solid fuels have gone down.

Food and non-alcoholic beverages prices increased by 1.4 percent over last month.

Prices of goods and services in the group of housing, water, electricity, gas and other fuels increased by 2 percent in January compared to December. The biggest increases affected natural gas (20 percent), water supply (14.7), sewage collection services (10.4), electricity (4.4), and products and materials for housing maintenance and repair (2), while prices of heating (3.6) and solid fuels (3) decreased.

Clothing prices fell by 8.3 percent, other clothing by 6.3 percent and footwear by 4.3 percent.

Annual inflation was mainly influenced by increases in the prices of solid fuels, milk and dairy products, cheese and eggs, bread and cereal products, electricity, meat and meat products, restaurants, cafes, cars, gas, vehicle maintenance and repair services, sugar, jam, honey, chocolate and sweets.

Prices of consumer goods increased by 23.2 percent over the year, services by 12.3 percent.

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