In July, consumer prices dropped 0.1% over the previous month, which contrasted both the 0.2% increase observed in June and market expectations of a 0.1% rise. The monthly drop was the result of lower prices for food and non-alcoholic beverages as well as for clothing and footwear. As a result of the monthly decline, annual headline inflation fell from 3.5% in June to 3.1% in July, which marks the lowest level since December 2011. The reading undershot both market expectations and the Central Bank's estimate, which had inflation inching down to 3.4%. Nonetheless, at the current level inflation remains above the Central Bank's target of 2.0% (with a tolerance margin of plus/minus 1.0 percentage points). The Czech National Bank expects inflation to fall to 3.0% by the end of this year. For 2013, the Bank predicts inflation to fall further to 2.3%.
Czech Republic Inflation
Inflation drops to seven-month low
August 9, 2012
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Czech Republic Inflation Chart
Note: Month-on-month and year-on-year variation of consumer price index in %.
Source: Czech Statistical Office (CSO).
Czech Republic Economic News
October 24, 2016
The economic sentiment indicator published by the Czech Statistics Office (CSO) rose from September’s 97.1 points to 97.5 points in October, marking a nine-month high.
October 10, 2016
In September, consumer prices fell 0.2% from the previous month, matching August’s reading.
October 7, 2016
Industrial production grew 13.1% year-on-year in August, which sharply contrasted the 14.1% fall registered in July and was the best result since May 2011.
October 3, 2016
The manufacturing Purchasing Managers’ Index (PMI) produced by IHS Markit rose from August’s 50.1 to a four-month high of 52.0 in September.
September 29, 2016
At its meeting on 29 September, the Czech National Bank (CNB) decided to leave the two-week repo rate unchanged at its so-called “technical zero” of 0.05%.