Lithuania Inflation Soars, Fastest in EU

Advanced estimates of Lithuania’s inflation, the fastest in the European Union, was at its fastest in more than 25 years as the war in Ukraine and Europe’s energy crisis drove food and energy prices higher.

Consumer prices surged 16.6 percent year-on-year in April, a 1.9 percent increase from 15.7 percent in March, according to the EU’s harmonized measure.

The increase was mainly driven by higher costs of food, housing, transport, and energy, Lithuania’s statistics office said Thursday.

Lithuania’s Finance Ministry forecasted last month that inflation for this year would reach 9.8 percent.

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