Analytics, Inflation, Lithuania, Statistics
International Internet Magazine. Baltic States news & analytics
Thursday, 28.03.2024, 18:32
July harmonized average annual inflation stood at 3.4% in Lithuania
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 | |||
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.