LITHUANIAN C. BANKER EXPECTS INFLATION TO ABATE IN SUMMER, Baltic Business Daily
Updated 2008-02-06
VILNIUS, Feb 04, BNS - Lithuania's central bank governor, Reinoldijus Sarkinas, expects inflation to start abating in early summer this year. "From May or June inflation can really begin to slow. I do not expect it to come down earlier," Sarkinas told reporters on Monday after meeting with Parliamentary Speaker Viktoras Muntianas. Lithuania's average annual inflation rate, as measured by the EU Harmonized Index of Consumer Prices (HICP), stood at 5.8 percent last December, while the Maastricht limit for euro adoption was 3.4 percent The Bank of Lithuania forecasts that the country's average annual inflation will be 7.9 percent this year and will decelerate to 4.9 percent next year.
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