Czech Republic Inflation October 2020

Czech Republic

Czech Republic: Inflation drops in October

November 10, 2020

Consumer prices increased 0.18% from the previous month in October, contrasting September’s 0.62% decrease. Looking at the details of the release, October’s rise mainly reflected higher prices for food and non-alcoholic beverages and clothing and footwear which more than offset lower prices for utilities.

Meanwhile, inflation decreased to 2.9% in October (September: 3.2%), therefore moving within the Central Bank’s 1.0%–3.0% tolerance range. Lastly, annual average inflation was stable at September’s 3.3% In October.

FocusEconomics Consensus Forecast panelists forecast that inflation will average 2.1% in 2021, which is unchanged from last month’s Consensus, and 2.1% again in 2022.

Author: Massimo Bassetti, Senior Economist

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Czech Republic Inflation Chart

Czech Republic Inflation October 20 20

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

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