Czech Republic: Inflation climbs to over six-year high in March
April 10, 2019
Consumer prices rose 0.2% from the previous month in March, following February’s 0.2% month-on-month increase. Data released by the Czech Statistical Office (CSO) revealed that March’s uptick was largely due to higher prices for fuels and electricity.
Meanwhile, inflation edged up from 2.7% in February to 3.0% in March, the highest reading since October 2012. As a result, it now sits on the upper band of the Central Bank’s 1.0%–3.0% tolerance range. Annual average inflation ticked up to 2.4% from 2.3% in the previous month.
Czech Republic Inflation Forecast
The Central Bank expects average inflation of 2.2% for 2019 and 2.0% for 2020. FocusEconomics Consensus Forecast panelists project that inflation will average 2.3% in 2019, which is up 0.1 percentage points from last month’s forecast, and 2.0% in 2020.
Author: Javier Colato, Economist