In 2022 Lithuania saw a sharp rise in the cost of everyday essentials. A report by Lietuvos rytas, based on official statistics, highlights a substantial jump in prices for the most basic goods. The article notes that food and non-alcoholic beverages climbed by 34.7 percent over the year, signaling broadening inflation affecting households across the country.
What stood out in the report is the faster pace at which certain staples became more expensive. Sugar costs surged by 68.7 percent, cereals by 56.2 percent, and canned meat by 54.2 percent. Dairy products followed closely, with kefir and curdled milk up 51.1 percent, milk up 50.5 percent, and cheese and cottage cheese rising by about 50.2 percent. Prices for sunflower oil increased around 47.6 percent, while flour also registered a notable gain of 46.6 percent. These increases reflect a period of rapid price pressures across the food sector and related commodities.
Overall inflation for the year was reported at 21.7 percent, indicating a broad rise in consumer prices across a wide range of goods and services. Earlier data from the State Statistics Service of Ukraine placed the country’s inflation at 26.6 percent by the end of 2022, illustrating how inflation trends can differ between economies facing distinct macroeconomic conditions.
In a related financial perspective, Katherine Mann, a former member of the Bank of England Monetary Policy Committee, commented on policy actions. She suggested that placing a ceiling on the prices of Russian energy resources could trigger shifts in inflation elsewhere within the economy, as households and businesses adjust to constrained energy costs and altered energy markets.