Czech Republic Inflation May 2016

Czech Republic

Czech Republic: Inflation falls in May

May 10, 2016

In May, consumer prices fell 0.2% over the previous month, which contrasted April’s 0.6% rise. According to the Czech Statistical Office, the print mainly reflected a drop in prices for housing, water, electricity, gas and other fuels, alcoholic beverages and tobacco, and food and non-alcoholic beverages.

Inflation decreased from 0.6% in April to 0.1% in May. The result marked the lowest reading in four months and undershot market expectations of a 0.4% reading. As a result of the decrease, inflation is even further below the lower bound of the Czech National Bank’s (CNB) target range of 1.0% to 3.0%.

The CNB expects average inflation of 1.4% for 2016. FocusEconomics Consensus Forecast panelists project that inflation will average 0.7% in 2016, which is down 0.1 percentage points from last month’s Consensus. For 2017, panelists expect inflation of 1.8%.

Author:, Economist

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Czech Republic Inflation Chart

Czech Republic Inflation May 2016

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

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