For some, the benign inflation outcome of the past year might be considered surprising, as resource utilization rates -- particularly of labor -- have been in the neighborhood of those that historically have been associated with building inflation pressures. To be sure, nominal hourly labor compensation, especially its wage component, accelerated in 1996.
Speech by Gediminas Šimkus at the joint webinar “Investment in the Baltics: From pandemic to war” 2022-05-20 Joint Bank of Lithuania, Bank of Estonia, Bank of Latvia, and European Investment Bank Webinar “Investment in the Baltics: From pandemic to war” 20 May 2022 Welcome and opening remarks Good morning, dear Vice President Östros, Governor Müller, Governor Kazāks, dear colleagues and webinar viewers, A warm welcome to this joint webinar organised by the Bank of Lithuania, the Bank of Estonia, the Bank of Latvia, and the European Investment Bank (EIB).