Czech Republic Inflation

Czech Republic

Czech Republic: Inflation inches up to one-and-a-half-year high in June

July 9, 2015

In June, consumer prices rose 0.1% over the previous month, which came in below May’s 0.3% increase. According to the Czech Statistical Office, June’s mild rise reflected higher prices for recreation and culture as well as transport.

In June, headline inflation inched up from May’s 0.7% to 0.8%, the highest reading in 18 months. Nevertheless, the result fell slightly short of the 0.9% rise that the market had expected. Inflation remains below the Czech National Bank’s (CNB) target range of 1.0% to 3.0%.

The CNB expects that consumer prices will rise 0.1% on average in 2015. For 2016, the CNB sees average inflation of 1.7%. FocusEconomics Consensus Forecast panelists project that inflation will reach 0.5% by the end of 2015, which is up 0.1 percentage points from last month’s Consensus. For 2016, panelists expect inflation to rise to 1.7%.

Author: Teresa Kersting, Economist

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Czech Republic Inflation Chart

Czech Republic Inflation June 2015

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

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