Czech Republic: Inflation edges down to Central Bank's target in November
December 10, 2018
Consumer prices declined 0.1% from the previous month in November, contrasting October’s 0.4% rise. Data released by the Czech Statistical Office (CSO) revealed that November’s dip was largely due to lower prices for food and non-alcoholic beverages.
Meanwhile, inflation edged down from 2.2% in October to 2.0% in November. As a result, inflation landed at the midpoint of the Central Bank’s 1.0%–3.0% tolerance band. Annual average inflation remained unchanged at October’s 2.2%.
Czech Republic Inflation Forecast
The Central Bank expects average inflation of 2.6% for 2019 and 2.0% for 2020. FocusEconomics Consensus Forecast panelists project that inflation will average 2.3% in 2019, unchanged from last month’s forecast, and 2.0% in 2020.
Author: Javier Colato, Economist
