Lithuania: Harmonized inflation drops to lowest level since March 2021 in December
Harmonized inflation eased to 1.6% in December, following November’s 2.3%. December’s figure represented the lowest inflation rate since March 2021. Looking at the details of the release, housing and utilities prices fell at a quicker pace in December compared to the previous month, while price pressures for transportation rebounded. Moreover, prices for recreation grew at a more subdued pace.
Annual average harmonized inflation fell to 8.7% in December (November: 10.2%). Meanwhile, consumer price inflation fell to 1.2% in December, from November’s 2.0%.
Lastly, harmonized consumer prices fell 0.60% in December over the previous month, a sharper drop than November’s 0.40% fall. December’s result marked the weakest reading since July 2016.