Rocketing heating costs fuels inflation in Lithuania


VILNIUS, Sept. 29 (Xinhua) -- A 34 percent increase in the energy fee for district heating services coupled with the rise in the price of solid fuel and food pushed inflation up in Lithuania in September, the Baltic News Service (BNS) reported on Thursday.

According to Statistics Lithuania, annual inflation in the country reached 22.4 percent in August, the highest level in 26 years. The projected rate for September is 22.5 percent, the highest level since the same month of 1996.

The country's National Energy Regulatory Council (VERT) said that the average heating bill excluding value-added tax (VAT) in September was 11.02 cents per kilowatt-hour (kWh), which was 33.6 percent more than in August and 2.4 times more than in September 2021.

High electricity bills are forcing several restaurants and cafes across the country to close their doors. Liutauras Ceprackas, head of the Association of Caterers, told local media that electricity alone now cost twice or three times more than rent.

Tadas Povilauskas, an economist at SEB Bankas, believes that prices will continue to rise as businesses will continue to pass the rising energy costs on to consumers.

Article type: free
User access status:
Subscribe now to our Premium Plan for an ad-free and unlimited reading experience!
   

Next In World

Disasters caused total of $122 billion in insured losses in 2022 - Swiss Re
U.N. tell Taliban to investigate reports of extrajudicial killings in Daikundi
Ukraine's Kherson loses power supply after Russian shelling - governor
Russia's Lavrov says European security body is hobbled by West
Spain steps up security as PM's office targeted in spate of letter-bombs
Islamic State leader Quraishi blew himself up after being surrounded -sources
Russia condemns German parliament for declaring Ukraine Soviet-era famine a genocide
South Africa's Ramaphosa delays parliament appearance to consider panel report
Modi urges unity on 'greatest challenges' as India assumes G20 presidency
UN seeks record $51.5 billion aid 'lifeline' next year

Others Also Read