Czech Republic: Inflation dips below the Central Bank target
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.