Czech Republic Inflation May 2018

Czech Republic

Czech Republic: Inflation climbs in May

June 11, 2018

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.

The Central Bank expects inflation of 1.7% for 2018 and 1.8% for 2019. FocusEconomics Consensus Forecast panelists project that inflation will average 2.0% in 2018, unchanged from last month’s forecast. For 2019, panelists expect inflation of 2.1%.


Author:, Economist

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CzechRepublic Inflation May 2018

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


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