Lithuania Has the Most Stable Prices in Central Europe
Published:
10 July 2002 y., Wednesday
Lithuania has the most stable prices in Central and Eastern Europe. This was the conclusion drawn by the experts from Bank Austria in a report on inflation in Central and Eastern Europe.
Prices of key consumer goods and services in Lithuania rose only by 0.5% on year-on- year terms. The experts from Bank Austria noted that Lithuania had the lowest inflation rate of any of the twelve countries in the euro zone, where the average inflation stood at 2% in May.
In their opinion this year Lithuania will meet the requirement for members of the Economic and Monetary Union (EMU) that a country’s inflation should not exceed the average of the inflation rates of the three member states with the most stable rates by more than 1.5 percentage points. The average rate for 2002 is projected at 3.3%. Bank Austria forecasts a 2.8% inflation rate for Lithuania in 2002 and 3% - in 2003.
Šaltinis:
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