The annual inflation rate in Lithuania increased to 2.9 percent in October 2018 from a downwardly revised 2.1 percent in the prior month. It was the highest inflation rate since May, amid rising prices of transport (9.3% vs 7.5% in September), such as fuel and lubricants (16.7%); and housing & utilities (5.7% vs 2.4%). Also, inflation quickened for alcoholic beverages & tobacco (2.8% vs 1.9%). Meanwhile, cost eased for food and non-alcoholic beverages (0.2 percent vs 1.0 percent); recreation & culture (1.4% vs 2.1%); health (2.6% vs 2.8%); restaurants & hotels (5.8% vs 6.1) and miscellaneous goods & services (1.9% vs 2.4%).. On a monthly basis, consumer prices were up 0.6 percent, after a downwardly revised 0.4 percent drop in September. Inflation Rate in Lithuania averaged 17.58 percent from 1993 until 2018, reaching an all time high of 707.40 percent in June of 1993 and a record low of -2 percent in January of 2003.
Inflation Rate in Lithuania is expected to be 2.70 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Inflation Rate in Lithuania to stand at 2.40 in 12 months time. In the long-term, the Lithuania Inflation Rate is projected to trend around 2.40 percent in 2020, according to our econometric models.