Czech Republic Inflation January 2017

Czech Republic

Czech Republic: Inflation hits over four-year high in January

February 10, 2017

In January, consumer prices grew 0.8% from the previous month, accelerating from December’s 0.3% rise. According to the Czech Statistical Office, the print mainly reflected an increase in prices for food and non-alcoholic beverages, recreation and culture and transport.

Inflation edged up in January, increasing to an over four-year high of 2.2% from December’s 2.0%. Consequently, inflation moved above the center of the Czech National Bank’s (CNB) target range of 1.0% to 3.0%. Annual average inflation in January was 0.8%, up from December’s 0.7%.

The CNB expects average inflation of 2.4% 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 January 2017

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

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