Czech Republic Inflation May 2019

Czech Republic

Czech Republic: Inflation eases from over six-year high in May

June 11, 2019

Consumer prices rose 0.7% from the previous month in May, following April’s 0.1% month-on-month increase. Data released by the Czech Statistical Office (CSO) revealed that May’s upturn was largely due to higher prices for food and non-alcoholic beverages.

Meanwhile, inflation ticked up from 2.8% in April to 2.9% in May. As a result, it now lies marginally below the upper bound of the Central Bank’s 1.0%–3.0% tolerance range. Annual average inflation inched up to 2.5% from 2.4% in the previous month.

The Central Bank expects average inflation of 2.7% for 2019 and 2.1% for 2020. FocusEconomics Consensus Forecast panelists project that inflation will average 2.4% in 2019, which is unchanged from last month’s forecast, and 2.0% in 2020.

Author:, Economist

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Czech Republic Inflation Chart

Czech Republic Inflation May 2019

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

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