Czech Republic Inflation November 2021

Czech Republic

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

December 13, 2021

Consumer prices rose 0.17% from the previous month in November, following October’s 1.02% jump. Looking at the details of the release, November’s increase mainly reflected rising prices for transport and in food and non-alcoholic beverages.

Meanwhile, inflation climbed to 6.0% in November from October’s 4.9%, and thus marked the highest reading since September 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 3.5% in November from 3.2% in October, marking the highest reading since June 2009.

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 November 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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