Czech Republic Inflation December 2021

Czech Republic

Czech Republic: Inflation jumps to over 13-year high in December

January 12, 2022

Consumer prices rose 0.42% from the previous month in December, following November’s 0.17% increase. Looking at the details of the release, December’s increase mainly reflected rising prices for food and non-alcoholic beverages.

Meanwhile, inflation climbed to 6.6% in December from November’s 6.0%, and thus marked the highest reading since July 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 3.8% in December from 3.5% in November, marking the highest reading since May 2009.

FocusEconomics Consensus Forecast panelists forecast that inflation will average 3.5% in 2022, which is unchanged from last month’s Consensus, and 2.8% in 2023.

Author: Massimo Bassetti, Senior Economist

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Czech Republic Inflation Chart

Czech Republic Inflation December 2021

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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