Czech Republic: Inflation falls from near eight-year high in March
Consumer prices slipped 0.1% from the previous month in March, contrasting February’s 0.3% increase. Data released by the Czech Statistical Office (CSO) revealed that March’s dip was mainly driven by lower prices for fuels and package holidays.
Meanwhile, inflation dropped to 3.4% in March from 3.7% in February, which had marked a near eight-year high. Nevertheless, it remained above the Central Bank’s 1.0%–3.0% tolerance range, where it has been for the past five months. Lastly, annual average inflation inched up to 3.1% from 3.0% in February.