Lithuania Ups Consumer Price Index, GDP

Guardian Limited (VILNIUS)-Lithuania's central bank revised up on 25 January its forecasts for inflation and economic growth in 2008, but said it expected a gradual slowdown in activity that would avoid a hard landing and crisis. The bank forecast annual average inflation would hit 7.9 percent in 2008, up from a 5.7 percent forecast made three months ago. Surging food and utility costs pushed the consumer price index up 8.1 percent year-on-year in December, the biggest jump in a decade. (Reliability: 8)