Czech Republic Inflation

Czech Republic

Czech Republic: Inflation drops in August

September 9, 2015

In August, consumer prices fell 0.2% over the previous month, which came in below July’s 0.1% decrease. According to the Czech Statistical Office, August’s drop reflected lower prices for food and non-alcoholic beverages as well as alcoholic beverages and tobacco.

In August, inflation fell from July’s 0.5% to 0.3%. In addition, the print fell slightly short of the 0.4% drop that the market had expected. As a result, inflation moved further below the Czech National Bank’s (CNB) target range of 1.0% to 3.0%.

The CNB expects that consumer prices will rise 0.1% on average in 2015. For 2016, the CNB sees average inflation of 1.7%. FocusEconomics Consensus Forecast panelists project that inflation will reach 0.5% by the end of 2015, which is unchanged from last month’s Consensus. For 2016, panelists expect inflation to rise to 1.7%.

Author: Teresa Kersting, Economist

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Czech Republic Inflation Chart

Czech Republic Inflation August 2015

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

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