Lithuania: CPI inflation edges down to 2.7% y/y in May

CPI inflation edged down to 2.7% y/y in May, data of the stat office showed on Monday. This mainly came on the back of transport prices, whose growth slowed down to 1.7% y/y, affected by higher base effect and the recent decrease international oil prices. This was more than enough to compensate for the stronger growth of food, clothing and housing prices.

Looking ahead, we do not expect to see tangible deceleration of CPI inflation in the coming months as the robust wage growth should keep household consumption strong and exert upward pressure on prices.

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