Czech Republic Inflation May 2020

Czech Republic

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.

FocusEconomics Consensus Forecast panelists project that inflation will average 2.7% in 2020, which is up 0.1 percentage points from last month’s forecast, and 1.8% in 2021.

Author:, Economist

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Czech Republic Inflation Chart

Czech Republic Inflation May 20 20

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

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