Inflation pressures ease

VILNIUS - According to the harmonized index of consumer prices (HICP), inflation in July compared to June may drop to -0.2 percent in Lithuania, reports ELTA.
Statistics Lithuania says the annual inflation rate is likely to reach 2.7 percent in July. The recorded annual inflation in June was 2.6.

It is likely that currently falling prices in the clothing and footwear sector, which is greatly affected by seasonality associated with summer and winter sales, will make the strongest impact on inflation in June. The prices of other goods and services are likely to remain unchanged. Early this year the prices in the sectors of clothing, footwear, alcoholic beverages and tobacco goods were the fastest growing. The transport prices that were increasing rapidly early this year now began to decline. A similar tendency is observed in the prices of the food and non-alcoholic beverages groups.