Czech Republic Inflation December 2020

Czech Republic

Czech Republic: Inflation at two-year low in December

January 13, 2021

Consumer prices dipped 0.18% from the previous month in December, following November’s flat reading. Looking at the details of the release, December’s result mainly reflected lower prices for food and non-alcoholic beverages and for garments.

Meanwhile, inflation decreased to 2.3% in December (November: 2.7%), 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 remained unchanged at November’s 3.2%.

FocusEconomics Consensus Forecast panelists forecast that inflation will average 2.1% in 2021, which is unchanged from last month’s Consensus, and 2.1% again in 2022.

Author: Massimo Bassetti, Senior Economist

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Czech Republic Inflation Chart

Czech Republic Inflation December 20 20

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

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