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Lithuania Producer Price Inflation Slows In December

Lithuania's producer prices rose at a slower pace in December, after accelerating in the previous month, figures from the statistical office showed Tuesday.

The industrial producer price index rose 16.3 percent year-on-year following a 17.6 percent increase in November. In October, producer price inflation was 16.3 percent.

Excluding refined petroleum products, the producer price inflation continued to accelerate and was 13.2 percent versus 11.7 percent in November.

Prices for products sold on the domestic market increased 27.9 percent annually and those for the foreign market grew 7.9 percent.

Excluding refined petroleum products, domestic market prices rose 23 percent and foreign market prices climbed 5.7 percent.

In December, inflation was largely driven by the 55.6 percent surge in prices for electricity, gas, steam and air-conditioning.

Compared to the previous month, the producer price index rose 0.4 percent in December after a 1.7 percent increase in November.

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