According to data just out from Statistics Lithuania, Lithuania's annual inflation rate accelerated in August to the fastest pace in almost a decade. The rate jumped to 5.5 percent from 5.1 percent in July, the highest since June 1998. Month on month prices rose by 0.3 percent.
Lithuania, it will be rmembered, was the first country to have its application to adopt the euro rejected, since it failed the inflation test. Since that time consumer-price growth has steadily accelerate from 4 percent at the start of this year. This being said, Lithuania is at the present time well short of the inflation performance in neighboring Latvia, where they have just posted a year on year inflation rate of 10.1 percent for August.
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2 comments:
This confirms what I know, from living in Lithuania. Basic food costs, including diary food, flat/apartment rentals and house prices are rising beyond comprehension or reasonable explanation, and without added 'value for money' in what the consumer is receiving. When will the government or EU do something about this? Everyday people are suffering.
my mistake: dairy food!
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