Czech Republic Inflation December 2016

Czech Republic

Czech Republic: Inflation hits four-year high in December

January 11, 2017

In December, consumer prices in the Czech Republic grew 0.3% from the previous month, matching November’s reading. According to the Czech Statistical Office, the print mainly reflected an increase in prices for food and non-alcoholic beverages as well as for restaurants and hotels.

Inflation edged up in December, increasing to a four-year high of 2.0% from November’s 1.5%. Consequently, inflation moved to the center of the Czech National Bank’s (CNB) target range of 1.0% to 3.0%. Annual average inflation in December was 0.7%, up from October’s 0.5%.

The CNB expects average inflation of 1.9% for 2017. FocusEconomics Consensus Forecast panelists project that inflation will average 1.7% in 2017, which is unchanged from last month’s Consensus. For 2018, panelists expect inflation of 2.0%.

Author: Massimo Bassetti, Economist

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Czech Republic Inflation Chart

Czech Republic Inflation December 2016

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

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