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Czech Republic Inflation May 2023

Czech Republic: Inflation declines to lowest level since January 2022 in May

Inflation came in at 11.1% in May, which was down from April’s 12.7%. May’s result represented the weakest inflation rate since January 2022. Looking at the details of the release, prices for housing and utilities grew at a more moderate pace in May while prices for food and non-alcoholic beverages increased at a slower rate.

Accordingly, the trend pointed down, with annual average inflation coming in at 15.8% in May (April: 16.2%).

Finally, consumer prices rose 0.27% over the previous month in May, contrasting the 0.20% drop recorded in April.

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