Czech Republic Inflation October 2021

Czech Republic

Czech Republic: Inflation jumps to 13-year high in October

November 11, 2021

Consumer prices jumped 1.02% from the previous month in October, following September’s 0.17% rise. Looking at the details of the release, October’s increase mainly reflected rising prices for utilities, transport and clothing and footwear.

Meanwhile, inflation climbed to 5.8% in October from September’s 4.9%, and thus marked the highest reading since October 2008 and moved further above the higher bound of the Central Bank’s 1.0%–3.0% tolerance range. Lastly, annual average inflation rose to 3.2% in October from 3.0% in September.

FocusEconomics Consensus Forecast panelists forecast that inflation will average 2.7% in 2022, which is unchanged from last month’s Consensus, and 2.5% in 2023.

Author: Massimo Bassetti, Senior Economist

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Czech Republic Inflation Chart

Czech Republic Inflation October 2021 0

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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