Czech Republic Inflation February 2018

Czech Republic

Czech Republic: Inflation dips below the Central Bank target

March 9, 2018

In February, consumer prices were unchanged from the prior month’s reading and was lower than January’s revised 0.7% month-on-month increase (previously reported: +0.6% month-on-month). According to the data released by the Statistical Institute, the result came on the back of higher prices for recreation and culture that offset lower prices for food and non-alcoholic beverages and alcoholic beverages and tobacco.

Inflation moderated from 2.2% in January to 1.8% in February. Inflation was therefore below the Central Bank’s target of 2.0% for the first time since November 2016. Annual average inflation, meanwhile, eased from the prior month’s 2.5% to 2.4% in February.

The Central Bank expects inflation of 2.3% for 2018 and 1.9% for 2019. FocusEconomics Consensus Forecast panelists also project that inflation will average 2.3% in 2018, which is unchanged from last month’s forecast. For 2019, panelists expect inflation of 2.1%.


Author:, Economist

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Czech Republic Inflation Chart


CzechRepublic Inflation February 2018

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


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