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Financial News: Lithuania Inflation At 26-Year High

Lithuania Inflation At 26-Year High

09/08/2022 - 03:48:00 (RTTNews)

(RTTNews) - Lithuania's consumer price inflation accelerated further in August to reach its highest level in twenty-six years, figures from the statistical office showed on Thursday.

The consumer price index climbed 22.4 percent year-over-year in August, faster than the 21.6 percent surge in July.

Further, this was the strongest inflation rate since August 1996, when prices had risen 24.3 percent.

The latest upward trend in inflation was largely driven by a 59.1 percent jump in utility costs. This was followed by a 30.6 percent rise in prices of food and non-alcoholic beverages.

Transport costs were 26.4 percent higher compared to last year, led by increased prices for fuel and lubricants.

On a monthly basis, consumer prices increased 1.0 percent in August versus a 1.2 percent gain in the prior month.

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