Czech Republic: Inflation at over two-year low in January
Consumer prices soared 1.34% from the previous month in January, contrasting December’s 0.18% dip and marking the strongest increase in 12 months. Looking at the details of the release, January’s result mainly reflected higher prices for food and non-alcoholic beverages as well as for alcoholic beverages and tobacco.
Meanwhile, inflation decreased to 2.2% in January (December: 2.3%), therefore moving closer to the midpoint of the Central Bank’s 1.0%–3.0% tolerance range and marking the lowest reading since December 2018. Lastly, annual average inflation moderated to 3.0% from December’s 3.2%.