Analytics, Inflation, Lithuania

The overall change in consumer prices was mainly influenced by an increase in prices for food products and non-alcoholic beverages, housing, water, electricity, gas and other fuels group of goods and services, as well as by a decrease in prices for clothing and footwear, transport goods and services.

Fig. 1. Monthly changes in prices for consumer goods and services, compared to the previous month

In November 2011, against October, prices for consumer goods grew by 0.3%, while prices for services remained almost unchanged. 

The change in prices for food products and non-alcoholic beverages was mostly influenced by an increase in prices for fruit vegetables (cucumbers, tomatoes, sweet pepper) – by 22.6%, fish and its products – 2.1%, salt, spices, sauces and other food products – 1.5%, sugar, jam, honey, chocolate and confectionery – 0.8%, mineral waters, soft drinks and juices – 1.1%, as well as by a decrease in prices for meat and its products – by 0.3%, bulb vegetables – 12.2%, fruit and berries – 0.5%, tuber vegetables (carrot, beetroot) – 6.6%, eggs – 1%. 

The change in prices for housing, water, electricity, gas and other fuels group of goods and services was determined by an increase in prices for heat energy – by 2.2%, solid fuel – 0.9%, maintenance and repair of the dwelling – 0.7%, liquefied gas for cooking – 1.2%, as well as by a decrease in prices for actual rentals for housing – by 1.6%. 

The change in prices for clothing and footwear was influenced by a decrease – due to seasonal discounts – in prices for footwear – by 1.6%, clothing – 0.7%. Prices for articles of clothing and clothing accessories decreased by 0.6%, while prices for clothing materials increased by 0.4%. 

The change in prices for transport goods and services was mostly influenced by a decrease in prices for petroleum – by 1.8%, passenger transport by air – 3.7%, liquefied gas for cars – 0.6%, as well as by an increase in prices for diesel fuel – by 2.3%. 

In November 2011, the annual inflation stood at 4.4%. The annual price change was determined by an increase in prices for food products and non-alcoholic beverages, housing, water, electricity, gas and other fuels group of goods and services, transport goods and services, as well as by a decrease in prices for clothing and footwear, recreation and culture goods and services. 

Over the year, prices for consumer goods grew by 5.3%, prices for services – 1.5%.

Fig. 2. Annual rates of change in prices for consumer goods and services, compared to the respective month of the previous year

In November 2011, average annual inflation stood at 4.2%. 

Table 1. Rates of change in prices for consumer goods and services, November 2011, %

Table 2. COICOP classes of consumer goods and services whose rates of change in prices had a decisive influence on the overall price change over the month (November 2011, against October)

Percentage points

COICOP – Classification of Individual Consumption by Purpose.

Concepts

Inflation – a decrease in the purchasing power of a currency unit, which manifests itself in a long-term increase in the average general price level. 

Annual inflation shows relative changes in the average price rate between the current month and the corresponding month of the previous year. 

Average annual inflation shows relative changes in the average price rate between the average of the latest twelve months and the average of the corresponding previous twelve months.