In June, consumer prices rose 0.4% over the previous month, which contrasts the 0.2% drop registered in May and exceeded market expectations a 0.1% rise. According to the statistical office, the monthly jump reflects higher prices for food and non-alcoholic beverages. As a result of the monthly increase, annual headline inflation rose to 1.6% in June from 1.3%, which had market the lowest level since June 2010. In addition, the annual increase overshot market expectations, which had inflation remaining stable at 1.3%. Inflation continues to sit within the Central Bank's target of 2.0% with a tolerance margin of plus/minus 1.0 percentage points. The Czech National Bank expects annual consumer prices to end the year at 1.8%, before picking up to 2.0% by the end of 2014. FocusEconomics Consensus Forecast panellists share the Bank's assessment and also expect inflation to reach 2.3% by the end of this year, which is down 0.1 percentage points from last month's Consensus. For 2014, panellists expect inflation to fall to 1.8%.
Czech Republic Inflation
Inflation rises in June
July 9, 2013
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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%.