Czech Republic Inflation July 2020

Czech Republic

Czech Republic: Inflation inches down in July

August 13, 2020

Consumer prices ticked up 0.45% over the last month in July, a softer increase than June’s 0.63% rise. Looking at the details of the release, July’s increase reflected higher prices in recreation and culture, outweighing falling prices for food and non-alcoholic beverages.

Meanwhile, inflation increased to 3.4% in July (June: 3.3%), thus climbing further above the Central Bank’s 1.0%–3.0% tolerance range. Lastly, annual average inflation rose slightly to 3.2% (June: 3.1%).

Consumer prices ticked up 0.45% over the last month in July, a softer increase than June’s 0.63% rise. Looking at the details of the release, July’s increase reflected higher prices in recreation and culture, outweighing falling prices for food and non-alcoholic beverages.

Meanwhile, inflation increased to 3.4% in July (June: 3.3%), thus climbing further above the Central Bank’s 1.0%–3.0% tolerance range. Lastly, annual average inflation rose slightly to 3.2% (June: 3.1%).

FocusEconomics Consensus Forecast panelists project that inflation will average 2.8% in 2020, which is up 0.1 percentage points from last month’s forecast, and 1.9% in 2021.

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Czech Republic Inflation Chart


Czech Republic Inflation July 20 20

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


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