Czech Republic: Inflation falls back to Central Bank's target range in May
June 10, 2020
Consumer prices rose 0.4% from the previous month in May, following April’s 0.2% dip. Looking at the details of the release, the swing was mainly driven by higher prices for alcoholic beverages and tobacco.
Meanwhile, inflation declined to 2.9% in May (April: 3.2%), thus landing within the Central Bank’s 1.0%–3.0% tolerance range after six successive months of hovering above it. Lastly, annual average inflation held steady at 3.1% for the third month running.
Author: Javier Colato, Economist