Czech Republic Inflation September 2020

Czech Republic

Czech Republic: Inflation inches down in September

October 13, 2020

Consumer prices declined 0.62% from the previous month in September, following August’s flat reading. Looking at the details of the release, September’s decline mainly reflected lower prices for recreation and culture due to the end of summer season and for food and non-alcoholic beverages.

Meanwhile, inflation decreased to 3.2% in September (August: 3.3%), however remaining above the Central Bank’s 1.0%–3.0% tolerance range. Lastly, annual average inched up to 3.3% from August’s 3.2%.

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.

Author: Massimo Bassetti, Senior Economist

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Czech Republic Inflation Chart

Czech Republic Inflation September 20 20 2

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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