Czech Republic: Inflation continues to climb in October
November 9, 2017
Consumer prices increased 0.5% in October over the previous month, coming in above market expectations. According to the Statistical Institute, the rise was mainly driven by higher prices for food and non-alcoholic beverages. Prices for both goods and services went up in October, with the former increasing the most.
Inflation rose from 2.7% in September to 2.9% in October, the highest level since October 2012. As a result, inflation continues to creep up towards the upper limit of the Central Bank’s 1.0%–3.0% target range. Annual average inflation, meanwhile, increased from 2.2% in September to 2.3% in October.
Author: Jan Lammersen, Economist