Czech Republic Inflation January 2020

Czech Republic

Czech Republic: Inflation climbs to near eight-year high at outset of 2020

February 14, 2020

Consumer prices soared 1.5% from the previous month in January, following December’s 0.2% increase. Data released by the Czech Statistical Office (CSO) revealed that January’s jump was mainly driven by higher prices for food and non-alcoholic beverages, and for alcoholic beverages and tobacco amid an increase in excise taxes.

Meanwhile, inflation leaped from 3.2% in December to 3.6% in January, the highest reading since March 2012. Thus, it rose further above the Central Bank’s 1.0%–3.0% tolerance range, where it has been for the past three months. Lastly, annual average inflation inched up to 2.9% from 2.8% in December 2019.

FocusEconomics Consensus Forecast panelists project that inflation will average 2.5% in 2020, which is up 0.1 percentage points from last month’s forecast, and 2.0% in 2021.

Author:, Economist

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Czech Republic Inflation Chart

Czech Republic Inflation January 20 20

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

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