Czech Republic: Inflation increases in October
Inflation came in at 8.5% in October, up from September’s 6.9%. The rebound in price pressures was largely due to rising prices for housing and utilities.
Annual average inflation fell to 12.1% in October (September: 12.7%).
Lastly, consumer prices rose 0.07% over the previous month in October, swinging from September’s 0.74% drop.
Commenting on the release, ING’s Frantisek Taborsky stated:
“Inflation rose in October, as expected, due to the effect of government measures last year. However, the trend remains disinflationary. Inflation will fall again in November and we are likely to approach inflation targets in January. That said, the central bank will probably want to have the January number in hand before cutting rates”