Czech Republic Inflation October 2016

Czech Republic

Czech Republic: Inflation accelerates in October

November 9, 2016

In October, Czech consumer prices grew 0.3% from the previous month, contrasting September’s 0.2% fall. According to the Czech Statistical Office, the print mainly reflected an increase in prices for clothing and footwear as well as for transport.

Inflation edged up in October, increasing to a 16-month high of 0.8% from September’s 0.5%. Consequently, inflation moved close to the lower bound of the Czech National Bank’s (CNB) target range of 1.0% to 3.0%. Annual average inflation in October was 0.4%, up from September’s 0.3%.

The CNB expects average inflation of 0.4% for 2016 and of 1.9% for 2017. FocusEconomics Consensus Forecast panelists project that inflation will average 0.6% in 2016, which is unchanged from last month’s Consensus. For 2017, panelists expect inflation of 1.6%, which is also unchanged from last month’s forecast.

Author: Massimo Bassetti, Economist

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Czech Republic Inflation Chart

Czech Republic Inflation October 2016

Note: Month-on-month changes and annual variation of consumer price index (CPI) in %.
Source: Czech Statistical Office (CSO).

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