Lithuania Sees Inflation Under EU Standards Quickening in August

Lithuanian inflation under European Union methodology will probably quicken to 3.2 percent from a year earlier in August, the statistics office said.

Consumer prices rose 2.9 percent in July, the statistics office, based in the capital, Vilnius, said today in an e-mailed statement. Prices may fall 0.1 percent from the previous month on lower vegetable and clothing prices, it said.

Lithuania needs to slow inflation to qualify for planned euro adoption in 2014. Countries seeking to make the currency change must keep inflation at less than 1.5 percentage points above the average of the three lowest levels in the EU.

To contact the reporter on this story: Milda Seputyte in Vilnius at mseputyte@bloomberg.net

To contact the editor responsible for this story: Balazs Penz at bpenz@bloomberg.net

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