Czech Republic Inflation March 2017

Czech Republic

Czech Republic: Inflation inches up in March

April 11, 2017

In March, Czech consumer prices remained unchanged from the previous month, slowing from February’s 0.4% month-on-month rise. According to the Czech Statistical Office, the print mainly reflected an increase in prices for alcoholic beverages and tobacco, which was offset by a decline in prices for recreation and culture.

Inflation inched up in March, increasing to an over four-year high of 2.6% from February’s 2.5%. Consequently, inflation moved closer to the upper bound of the Czech National Bank’s (CNB) target range of 1.0% to 3.0%. Annual average inflation in March was 1.2%, up from February’s 1.0%.

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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