Bloomberg News

Lithuanian Inflation Slowest in 29 Months, Boosting Euro Hopes

March 08, 2013

Lithuanian inflation slowed in February to the lowest in more than two years as the country seeks to stabilize prices to qualify for euro adoption.

The inflation rate fell to 2.2 percent from a year earlier, the lowest since September 2010, the statistics office in the capital, Vilnius, said in an e-mailed statement today. Consumer prices were unchanged from January.

The government has said the main hurdle to adopting the European Union’s common currency at the start of 2015 was slowing inflation to below an EU limit. Lithuania would probably be the last of the three Baltic countries to join the euro region, with Estonia making the switch in 2011 and Latvia planning to follow suit next year.

Lower heating costs and seasonal discounts on clothing and footwear offset rising fuel prices in February, according to the statistics office.

To contact the reporter on this story: Bryan Bradley in Vilnius at bbradley13@bloomberg.net

To contact the editor responsible for this story: Balazs Penz at bpenz@bloomberg.net


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