Czech Republic: Inflation inches up to near eight-year high in February
Consumer prices rose 0.3% from the previous month in February, following January’s 1.5% spike. Data released by the Czech Statistical Office (CSO) revealed that February’s increase was mainly driven by higher prices for recreation and culture, and clothing and footwear.
Meanwhile, inflation ticked up from 3.6% in January to 3.7% in February, the highest reading since March 2012. Thus, it rose further above the Central Bank’s 1.0%–3.0% tolerance range, where it has been for the past four months. Lastly, annual average inflation inched up to 3.0% from 2.9% in January.