Lithuania's inflation won't eat up revenue growth - PM

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Lithuania's Prime Minister Saulius Skvernelis says that people are more sensitive about inflation than they should be, adding that the price hike would not be steep enough to outdo growing salaries.

"We will definitely not have (inflation of) 5 percent, from what we project, salaries in the private sector should grow by 10 percent and in the public sector by 6 percent this year. In light of the next year's budget, inflation will not eat it all," Skvernelis told Žinių Radijas news radio on Thursday morning.

The annual inflation stood at 4.8 percent in September, as compared year-on-year, while the average annual inflation was 3 percent (4.4 pct and 2.6 pct in August, respectively).

Lithuania's Finance Ministry projected in September that the average annual inflation for 2017 would be 3.5 percent in light of the faster increase in prices for services, which is 0.1 percentage points above the spring estimates.

Source: BNS
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