Czech Republic Inflation March 2016

Czech Republic

Czech Republic: Inflation in March falls again

April 11, 2016

In March, consumer prices fell 0.1% over the previous month, which contrasted February’s 0.1% increase. According to the Czech Statistical Office, the print mainly reflected lower prices for recreation and culture, which came primarily from a drop in the price of package holidays.

Inflation fell from 0.5% in February to 0.3% in March. The result marked the lowest reading in three months and slightly undershot market expectations of 0.4%. The decrease pushes inflation 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 0.9% in 2016, which is down 0.1 percentage points from last month’s Consensus. For 2017, panelists expect inflation of 1.9%.

Author: Teresa Kersting, Economist

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Czech Republic Inflation Chart

Czech Republic Inflation March 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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