“Lithuania’s Annual Inflation Decreases for Eighth Month in a Row to 10.7% in May”

In Lithuania, annual inflation decreased to 10.7% in May, with the downward trend continuing for the eighth month in a row, according to the rapid assessment data of the State Data Agency published on Monday.

The main driving force of annual inflation was the increase in the price of food and non-alcoholic beverages, housing, water, electricity, gas and other fuels, as well as various goods and services, hotels and catering services.

In May, the annual average inflation in Lithuania reached 18.4%, while a month-on-month deflation was registered in the amount of 0.1%, according to the quick assessment. A month-on-month drop in consumer prices was recorded in Lithuania for the first time since November 2021.

In April, the annual inflation in Lithuania was 14.5%, the annual average inflation was 20.4%, while consumer prices remained stable compared to the month.