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Lithuania Inflation Accelerates, Trade Deficit Widens

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Lithuania’s consumer price inflation increased sharply in March, figures from the statistical office showed on Friday.

The trade deficit widened in February, as imports rose faster than exports.

The consumer price index rose 15.7 percent year-on-year in March, following a 14.2 percent increase in February.

Prices for consumer goods grew 17.9 percent and those for services rose by 10.5 percent.

Housing, water, electricity, gas and other increased 37.5 percent yearly in March. Transport cost grew 22.1 percent and hotels, cafes and restaurants surged 12.6 percent.

Prices for furnishing, household equipment and routine maintenance of houses, and miscellaneous goods and services gained by 13.2 percent and 12.4 percent, respectively.

On a monthly basis, consumer prices grew 2.4 percent in March, following a 1.8 percent rise in the prior month.

Separate data from the statistical office showed that the trade deficit widened to EUR 494.6 million in February from EUR 35.7 million in the same month last year.

In January, trade deficit was EUR 308.5 million.

Exports increased 20.8 percent annually in February, after a 36.8 percent rise in January.

Imports gained 39.0 percent yearly in February, after a 54.6 percent rise in the preceding month.

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