March 9, 2024

Changes in prices for consumer goods and services

In February 2024, against January, prices for consumer goods and services increased by 0.7 per cent. This was mainly influenced by an increase in prices recorded for fuels and lubricants, electricity, catering services of restaurants, cafés and the like, package holidays, maintenance and repair of personal transport equipment, tobacco products, as well as by a decrease in prices observed for solid fuel, non-durable household goods, sugar, jam, honey, chocolate and confectionery, clothing and footwear, bread and cereals.

Over the month, prices for consumer goods increased by 0.5 per cent, those for consumer services – 1.1 per cent.

Prices for consumer goods and services regulated by State and municipal authorities increased by 1.5 per cent, market prices – 0.6 per cent.

In February 2024, against January, prices for transport goods and services increased by 2.7 per cent. The change was determined by an increase in prices of diesel fuel (6.5 per cent), petrol (4.6 per cent), liquefied gas for cars (2 per cent), maintenance and repair of personal transport equipment (1.8 per cent).

Overall change in prices for alcoholic beverages and tobacco products (prices increased by 1.5 per cent) was determined by price growth recorded for tobacco products (2 per cent), wine and wine products (1.8 per cent), spirits (1.4 per cent).

Prices of goods and services related to recreation and culture grew by 1.4 per cent. The largest price growth was observed for toys, games and hobbies (6.2 per cent), package holidays (5.4 per cent), services of guides (2.4 per cent), museums (2.3 per cent), flowers (2.1 per cent), while price drop was recorded for personal computers (1.8 per cent).

Prices for housing, water, electricity, gas and other fuels increased by 0.7 per cent. The largest increase in prices was recorded for liquid fuel (8.5 per cent), electricity (6.2 per cent), products and materials for maintenance and repair of the dwelling (1.1 per cent), while decrease in prices – solid fuel (6.1 per cent), heat energy (1.1 per cent).

Food products and non-alcoholic beverages went down in price by 0.4 per cent. The largest price drop was observed for buckwheat groats, baby food, ice-cream, frozen seafood, flour, while price growth – mineral and spring waters, olive oil, champignon mushrooms, tea, meat preserves. Price change was also recorded for some fresh fruit and vegetables: the largest price drop was recorded for head lettuce, cauliflower, broccoli, blueberries, spinach, while price growth – for mangoes, carrots, garlic, sweet pepper, melons.

In February 2024, annual (February 2024, against February 2023) inflation stood at 0.7 per cent and was the lowest since January 2021 (0.6 per cent). The annual inflation was mainly influenced by an increase in prices of pharmaceuticals, catering services of restaurants, cafés and the like, cars, maintenance and repair of personal transport equipment, tobacco products, meat and meat products, as well as by a decrease in prices recorded for electricity, solid fuel, heat energy.

Over a year, prices for consumer goods decreased by 1.5 per cent, those for consumer services increased by 6.5 per cent.

Over a year, prices for consumer goods and services regulated by State and municipal authorities decreased by 5.2 per cent, while market prices increased by 1.8 per cent.

Source: Statistics Lithuania
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