In June, consumer prices added 0.2% over the previous month, which followed an increase of the same magnitude in May and came in above market expectations of a flat reading. The monthly increase reflected higher prices for food and non-alcoholic beverages as well as for alcoholic beverages and tobacco. As a result of the monthly rise, annual headline inflation rose from 3.2% in May to 3.5% in June, which overshot market expectations of a 3.3% increase, but fell short of the Central Bank's estimate which had inflation rising to 3.6%. Nevertheless, 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 revised its inflation forecasts and now expects it to rise to fall to 3.0% by the end of this year, which is down from its previous 3.5% estimate. For 2013, the Bank predicts inflation to fall further to 2.3%.
Czech Republic Inflation
Inflation falls to lowest level this year
June 11, 2012
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Note: Month-on-month and year-on-year variation of consumer price index in %.
Source: Czech Statistical Office (CSO).
Czech Republic Economic News
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%.
September 26, 2016
The economic sentiment indicator published by the Czech Statistics Office (CSO) rose from August’s 96.8 points to 97.1 points in September, marking a seven-month high.