Czech Republic Inflation

Czech Republic

Czech Republic: Inflation falls to lowest level in over four years

July 9, 2014

In June, consumer prices were unchanged over the previous month, which was down from the 0.1% increase registered in May. According to the Czech Statistical Office, higher prices for recreation and culture offset lower prices for food and non-alcoholic beverages.

Consumer prices were also unchanged compared to the same month last year in June. The reading came in below the 0.4% increase in May and marked the lowest level since October 2009. June’s result fell short of the 0.1% increase the market had expected. Inflation is well below the Czech National Bank’s (CNB) target range of 1.0% to 3.0%.

The CNB sees inflation ending 2014 at 1.6%. For 2015, the Bank expects inflation to rise to 1.9%. FocusEconomics Consensus Forecast panelists project that inflation will reach 1.4% by the end of 2014, which is down 0.2 percentage points from last month’s Consensus. For 2015, panelists expect inflation to rise to 2.0%.


Author:, Senior Economist

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Czech Republic Inflation Chart


Czech Republic Inflation June 2014

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


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