Lithuania forecasts inflation rate will fall to 1.6 percent in March

  • 2013-03-20
  • From wire reports

VILNIUS - Lithuanian inflation under European Union methodology will probably slow in March to 1.6 percent from a year earlier, compared with 2.3 percent in February, Bloomberg reports. Consumer prices may increase 0.2 percent from the previous month as clothing and footwear retailers unveil their spring collections, the statistics office, based in the capital, Vilnius, said in a statement on its website.

Lithuania’s 12-month average inflation rate, as measured by the EU’s harmonized consumer-price index, will probably be 2.8 percent in March, down from 3.0 percent in February, the office said. The Baltic nation’s government is seeking to slow inflation to below an EU limit, which is based on the 12-month average inflation rate, in order to quality for euro adoption.