Czech Republic Inflation

Czech Republic

Czech Republic: Inflation eases slightly in November

December 9, 2014

In November, consumer prices fell 0.2% over the previous month, which contrasted the 0.2% increase registered in October and marked the steepest drop since September 2013. According to the Czech Statistical Office, November’s decrease was due to lower prices for fuel as well as for alcoholic beverages and tobacco.

Annual headline inflation inched down from 0.7% in October to 0.6% in November, which marked the lowest level in three months. The reading undershot the 0.7% the market had expected. Inflation is well below the Czech National Bank’s (CNB) target range of 1.0% to 3.0%.

The CNB sees inflation ending 2014 at 0.7%. For 2015, the Bank expects inflation to rise to 1.5%. FocusEconomics Consensus Forecast panelists estimate that inflation will reach 0.6% by the end of 2014, which is down 0.1 percentage points from last month’s Consensus. For 2015, panelists expect inflation to rise to 1.6%, which is down 0.2 percentage points from last month’s estimate.


Author:, Senior Economist

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Czech Republic Inflation Chart


Czech Republic Inflation November 2014

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


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