Czech Republic: Inflation hits seven-month high in June
Consumer prices rose 0.4% in June from the previous month, moderating slightly from May’s 0.5% rise. Data released by the Czech Statistical Office (CSO) revealed that June’s increase was largely driven by higher prices for electricity and transport.
Inflation edged up from 2.2% in May to 2.6% in June, a seven-month high. As a result, inflation moved further above the Central Bank’s 2.0% target and closer to the upper bound of its 1.0%–3.0% tolerance band. Annual average inflation, meanwhile, held steady at 2.3% for the fourth consecutive month.