Czech Republic: Inflation climbs in May
Consumer prices rose 0.5% in May from the previous month, accelerating slightly from April’s 0.3% rise. Data released by the Czech Statistical Office (CSO) revealed that May’s increase was largely driven by higher prices for food and non-alcoholic beverages, and transport.
Inflation edged up from 1.9% in April to 2.2% in May, a four-month high. As a result, it moved slightly above the Central Bank’s 2.0% target but remained firmly within the 1.0%–3.0% tolerance band. Annual average inflation, meanwhile, held steady at 2.3% for the third consecutive month.