Lithuania Producer Price Inflation Eases; Trade Deficit Widens

(RTTNews) - Lithuania's producer price inflation eased to the lowest in eight months in November but remained at elevated level, figures from Statistics Lithuania showed on Friday.

Separate data from the statistical office showed that the trade deficit widened in October, as imports rose more than exports.

The producer price index increased 23.9 percent year-on-year in November, after a 28.1 percent growth in October.

Excluding refined petroleum products, producer prices rose 19.4 percent annually in November, after a 22.3 percent increase in the preceding month.

Producer prices for products sold on the Lithuanian market surged 37.4 percent annually in November and prices for products sold on the foreign market gained 13.0 percent from a year ago.

On a month-on-month basis, producer prices declined 1.6 percent in November, reversing a 1.6 percent gain in the prior month. Prices declined for the first time in three months.

Another data revealed that the EU measure of inflation, the harmonized index for consumer prices or HICP climbed 21.4 percent yearly in November and rose 0.3 percent from a month ago.

The trade deficit surged to EUR 850.1 million in October from EUR 325.2 million in the same month last year.

In September, there was a deficit of EUR 835.4 million.

Exports advanced 30.6 percent yearly in October, after a 41.4 percent growth in September.

Imports increased 42.6 percent, after a 56.5 percent gain in the previous month.