“I think that it [a decline in prices] is a temporary phenomenon and we should accept the fact that inflation will flare up again in Lithuania later,” Gitanas Nausėda told BNS commenting about the latest inflation figures released by the statistics office earlier on Tuesday.
He pointed out that the average annual inflation went down to 3.7 percent, from 3.9 percent.
“However, we should take into consideration the fact that [Lithuania] now exceeds the Maastricht convergence criterion by approximately 1 percentage point. And it means that the average inflation shall be particularly low in the remaining months – until March or April 2013, and it will be very difficult to achieve,” Nausėda said.
“Everything will look fine in summer, it will seem that we are getting closer to that convergence criterion, but later things will stall and that approximation may stop or the gap between inflation and that required level might even widen,” Nausėda said.
2012-07-10 17:15
Lithuania still far from meeting Maastricht inflation criterion, says analyst
Lithuania’s consumer prices declined in June in line with expectations, but the country is still far from meeting the Maastricht inflation criterion, an adviser to the president of SEB Bankas, Lithuania’s largest commercial bank, has said.
Gitanas Nausėda / Andriaus Ufarto/BFL nuotr.
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