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Czech Republic Inflation May 2024

Czech Republic: Inflation drops in May

Inflation came in at 2.6% in May, which was down from April’s 2.9% but above the midpoint of the Czech National Bank’s 1.0–3.0% tolerance band. Looking at the details of the release, the moderation was largely driven by softer growth in prices for housing and utilities, food and non-alcoholic beverages, and recreation and culture.

Accordingly, the trend pointed down, with annual average inflation coming in at 5.6% in May (April: 6.3%).

Finally, consumer prices were unchanged in May over the previous month, below April’s 0.66% increase. May’s result marked the weakest reading since December 2023.

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