Financial News: Lithuania Inflation Rises To 14-Month High, Trade Deficit

Lithuania Inflation Rises To 14-Month High, Trade Deficit Narrows

(RTTNews) - Lithuania's consumer price inflation rose further in December to the highest level in more than a year, figures from the statistical office showed on Thursday.

Separate official data showed that the trade deficit decreased in November as imports fell faster than exports.

The consumer price index rose 2.1 percent year-on-year in December, faster than the 1.3 percent increase in November.

Further, this was the highest inflation rate since October 2023, when prices had risen 2.8 percent.

Prices for consumer goods grew by 0.4 percent, and those for services surged by 6.1 percent.

The annual price growth in food and non-alcoholic beverages accelerated to 1.4 percent in December from 0.5 percent in November. A rebound of 1.1 percent in transport costs also pushed the inflation higher at the end of the year. Meanwhile, housing and utility costs were 3.6 percent less expensive.

On a monthly basis, consumer prices dropped 0.2 percent in December versus a 0.6 percent gain in November.

Separate data from the statistical office showed that the trade deficit narrowed to EUR 417.1 million in November from EUR 546.8 million last year. In October, the shortfall was EUR 387.4 million.

Exports declined 7.2 percent over the year, while imports declined at a comparatively faster pace of 9.5 percent.

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