In February, consumer prices added 0.2% over the previous month, only a fraction of the 1.8% jump observed in January, which had reflected an increase of the value-added tax (VAT) from 10% to 14%. The February increase was due to higher prices for fresh food and non-alcoholic beverages. As a result of the monthly increase, annual headline inflation spiked from 3.5% in January to 3.7% in February, which marks the highest rate observed since November 2008. The annual reading overshot both market expectation of a 3.6% rise and the Central Bank's estimate, which had inflation moderating to 3.4%. At the current level, inflation sits above the Central Bank's target of 2.0% (with a tolerance margin of 1.0 percentage points). Owing to the VAT rate increase, the Czech National Bank expects inflation to rise temporarily to just above 3.0% this year, before falling back below its target and end 2013 at 1.4%.
Czech Republic Inflation
Inflation rises to three-year high in February
March 9, 2012
Looking for forecasts related to Inflation in Czech Republic? Download a sample report now.
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.